Neumann Capital Management LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Neumann Capital Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,750 shares of the electric vehicle producer’s stock after selling 1,250 shares during the period. Neumann Capital Management LLC’s holdings in Tesla were worth $981,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC grew its position in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the period. Finally, National Pension Service increased its holdings in Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after buying an additional 688,717 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 5.8 %

Shares of NASDAQ:TSLA opened at $311.18 on Friday. The stock has a 50-day simple moving average of $248.48 and a 200-day simple moving average of $218.94. The stock has a market capitalization of $998.91 billion, a P/E ratio of 85.25, a PEG ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSLA shares. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $228.24.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 188,797 shares of company stock worth $57,616,781. Corporate insiders own 20.70% of the company’s stock.

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.