Thrivent Financial for Lutherans Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Thrivent Financial for Lutherans cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the third quarter, according to the company in its most recent disclosure 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 makes up 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 reporting period.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in Tesla by 0.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares in the last quarter. M&G Plc purchased a new stake in shares of Tesla in the 1st quarter worth about $2,509,000. Catalytic Wealth RIA LLC acquired a new stake in Tesla in the 1st quarter valued at about $732,000. Covestor Ltd increased its holdings in Tesla by 28.4% during the 1st quarter. Covestor Ltd now owns 1,606 shares of the electric vehicle producer’s stock valued at $282,000 after acquiring an additional 355 shares in the last quarter. Finally, Resurgent Financial Advisors LLC raised its position in Tesla by 60.1% during the first quarter. Resurgent Financial Advisors LLC now owns 5,267 shares of the electric vehicle producer’s stock worth $926,000 after acquiring an additional 1,978 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on TSLA shares. Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler upped their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Truist Financial lifted their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Finally, Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $230.18.

Tesla Price Performance

TSLA stock opened at $320.72 on Friday. The stock has a 50-day simple moving average of $252.30 and a 200-day simple moving average of $220.72. The firm has a market cap of $1.03 trillion, a P/E ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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. 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 quarter last year, the company earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla 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 in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % 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 valued at $57,616,781 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.