Tesla, Inc. $TSLA Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,510 shares of the electric vehicle producer’s stock after selling 1,737 shares during the period. Tesla makes up about 1.3% of Securian Asset Management Inc.’s holdings, making the stock its 13th largest holding. Securian Asset Management Inc.’s holdings in Tesla were worth $46,540,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TSLA. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth $27,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Centennial Bank AR raised its stake in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Compass Wealth Management LLC raised its stake in shares of Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Columbia River Financial Group LLC acquired a new stake in shares of Tesla in the first quarter valued at $32,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Barclays reiterated a “negative” rating and issued a $350.00 price objective (up from $275.00) on shares of Tesla in a research note on Thursday. Dbs Bank increased their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Piper Sandler increased their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. raised their price target on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $363.54.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Stock Up 1.8%

Tesla stock opened at $447.43 on Tuesday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market cap of $1.49 trillion, a PE ratio of 258.63, a P/E/G ratio of 15.79 and a beta of 2.08. The stock’s fifty day moving average is $389.71 and its two-hundred day moving average is $335.51.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.