Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,215,271 shares of the electric vehicle producer’s stock after selling 22,006 shares during the period. Tesla comprises approximately 0.6% of Thrivent Financial for Lutherans’ holdings, making the stock its 12th largest holding. Thrivent Financial for Lutherans’ holdings in Tesla were worth $317,988,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC lifted its position in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP raised its stake in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% in 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 acquiring an additional 5,875,484 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares during the period. Finally, Swedbank AB bought a new position in shares of Tesla during the first quarter valued at approximately $187,775,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was 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 of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following 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 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock worth $57,616,781 over the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $320.72 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $252.30 and its 200 day simple moving average is $220.72.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Wolfe Research assumed coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays upped their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group upped their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $230.18.

Tesla 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.