Everence Capital Management Inc. Acquires 5,420 Shares of Tesla, Inc. (NASDAQ:TSLA)

Everence Capital Management Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 64,790 shares of the electric vehicle producer’s stock after purchasing an additional 5,420 shares during the quarter. Tesla accounts for approximately 1.7% of Everence Capital Management Inc.’s portfolio, making the stock its 12th largest position. Everence Capital Management Inc.’s holdings in Tesla were worth $26,165,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TSLA. Geode Capital Management LLC raised its position in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares during the last quarter. FMR LLC boosted its holdings in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Robert W. Baird upped their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Canaccord Genuity Group increased their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $283.39.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,886 shares of company stock valued at $169,393,831. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA traded up $16.32 on Friday, hitting $395.60. The company’s stock had a trading volume of 38,203,675 shares, compared to its average volume of 70,498,711. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 108.38, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The stock has a fifty day moving average of $359.54 and a two-hundred day moving average of $271.59. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.