Thrivent Financial for Lutherans Sells 145,638 Shares of Tesla, Inc. (NASDAQ:TSLA)

Thrivent Financial for Lutherans lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,237,277 shares of the electric vehicle producer’s stock after selling 145,638 shares during the period. Tesla comprises about 0.5% of Thrivent Financial for Lutherans’ portfolio, making the stock its 20th largest holding. Thrivent Financial for Lutherans’ holdings in Tesla were worth $244,872,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the second quarter valued at about $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the fourth quarter worth about $37,000. Kessler Investment Group LLC raised its holdings in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the last quarter. Finally, Aspect Partners LLC lifted its holdings in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 2.3 %

NASDAQ:TSLA opened at $238.25 on Friday. The firm has a market cap of $759.83 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a 50-day moving average of $221.30 and a 200 day moving average of $195.84.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Truist Financial reissued a “hold” rating and issued a $215.00 price target on shares of Tesla in a research note on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $300.00 price objective on shares of Tesla in a report on Monday, August 19th. Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. Finally, The Goldman Sachs Group reduced their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $209.60.

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.