Neumann Capital Management LLC Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Neumann Capital Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 33.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,500 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 $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TSLA. Kathmere Capital Management LLC raised its position in Tesla by 5.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,247 shares of the electric vehicle producer’s stock worth $247,000 after buying an additional 70 shares during the last quarter. Ascent Group LLC grew its holdings in Tesla by 29.8% in the second quarter. Ascent Group LLC now owns 12,854 shares of the electric vehicle producer’s stock valued at $2,544,000 after purchasing an additional 2,953 shares during the last quarter. Aviso Wealth Management raised its position in shares of Tesla by 0.6% during the 2nd quarter. Aviso Wealth Management now owns 12,089 shares of the electric vehicle producer’s stock worth $2,392,000 after purchasing an additional 72 shares during the last quarter. Chicago Wealth Management Inc. raised its position in shares of Tesla by 2.5% in the second quarter. Chicago Wealth Management Inc. now owns 3,075 shares of the electric vehicle producer’s stock valued at $608,000 after buying an additional 75 shares during the last quarter. Finally, Buck Wealth Strategies LLC purchased a new position in Tesla during the second quarter worth about $357,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock worth $212,451,751 over the last 90 days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSLA shares. Wedbush boosted their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Guggenheim raised their price target on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Wells Fargo & Company boosted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Robert W. Baird boosted their price target on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $313.84.

Tesla Stock Performance

TSLA stock opened at $406.58 on Monday. The stock has a market capitalization of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a 50 day moving average price of $398.82 and a 200 day moving average price of $294.26. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

About Tesla

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.