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

Neumann Capital Management LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.0% in the 3rd quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC grew its holdings in Tesla by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 44,330 shares of the electric vehicle producer’s stock worth $11,598,000 after acquiring an additional 2,818 shares in the last quarter. ING Groep NV bought a new position in shares of Tesla during the third quarter worth about $57,609,000. Sargent Investment Group LLC grew its stake in Tesla by 12.5% in the third quarter. Sargent Investment Group LLC now owns 6,312 shares of the electric vehicle producer’s stock worth $1,651,000 after purchasing an additional 701 shares in the last quarter. Omnia Family Wealth LLC increased its holdings in Tesla by 20.6% in the third quarter. Omnia Family Wealth LLC now owns 2,099 shares of the electric vehicle producer’s stock valued at $549,000 after buying an additional 359 shares during the last quarter. Finally, Lifeworks Advisors LLC raised its stake in Tesla by 4.7% during the third quarter. Lifeworks Advisors LLC now owns 4,768 shares of the electric vehicle producer’s stock valued at $1,247,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. The Goldman Sachs Group boosted their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $228.24.

Insider Activity

In other Tesla news, 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 5.8 %

NASDAQ TSLA opened at $311.18 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company 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. The company’s 50 day simple moving average is $248.48 and its 200 day simple moving average is $218.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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