Thrivent Financial for Lutherans reduced its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,115,262 shares of the electric vehicle producer’s stock after selling 40,521 shares during the quarter. Tesla makes up 0.6% of Thrivent Financial for Lutherans’ portfolio, making the stock its 17th biggest position. Thrivent Financial for Lutherans’ holdings in Tesla were worth $231,168,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Alpha Paradigm Partners LLC acquired a new position in Tesla in the third quarter valued at approximately $27,000. GW&K Investment Management LLC bought a new position in Tesla during the 1st quarter worth $30,000. St. Johns Investment Management Company LLC increased its position in Tesla by 451.9% in the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after buying an additional 122 shares during the period. Worth Asset Management LLC bought a new stake in Tesla in the first quarter valued at $111,000. Finally, Magellan Asset Management Ltd acquired a new position in shares of Tesla during the first quarter valued at $34,000. Institutional investors own 41.87% of the company’s stock.
Tesla Stock Performance
Shares of Tesla stock opened at $267.48 on Wednesday. The stock has a market cap of $848.98 billion, a PE ratio of 75.77, a price-to-earnings-growth ratio of 3.92 and a beta of 2.09. The business has a fifty day simple moving average of $256.07 and a 200-day simple moving average of $219.36. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $313.80.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a report on Monday, July 10th. Truist Financial boosted their price objective on Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a research report on Thursday, July 20th. Wells Fargo & Company boosted their price objective on Tesla from $170.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Monday, July 17th. The Goldman Sachs Group boosted their price objective on Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, July 3rd. Finally, TD Cowen boosted their price objective on Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, July 20th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $238.77.
Read Our Latest Research Report on TSLA
Insider Buying and Selling
In related news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the sale, the chief financial officer now directly owns 197,540 shares in the company, valued at $55,054,398. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the completion of the sale, the senior vice president now directly owns 66,834 shares in the company, valued at $16,249,350.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the sale, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,815 shares of company stock worth $14,384,135. 25.10% of the stock is owned by company insiders.
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. It 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, retail merchandise, and vehicle insurance services.
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