Securian Asset Management Inc. Sells 3,359 Shares of Tesla, Inc. (NASDAQ:TSLA)

Securian Asset Management Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,099 shares of the electric vehicle producer's stock after selling 3,359 shares during the period. Tesla comprises about 1.8% of Securian Asset Management Inc.'s investment portfolio, making the stock its 8th biggest position. Securian Asset Management Inc.'s holdings in Tesla were worth $60,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Liberty Wealth Management LLC grew its position in Tesla by 41.2% in the 4th quarter. Liberty Wealth Management LLC now owns 25,249 shares of the electric vehicle producer's stock worth $10,197,000 after purchasing an additional 7,371 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of Tesla by 5.3% during the 4th quarter. Great Lakes Advisors LLC now owns 23,189 shares of the electric vehicle producer's stock valued at $9,365,000 after acquiring an additional 1,162 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of Tesla by 21.3% during the 4th quarter. Truvestments Capital LLC now owns 1,547 shares of the electric vehicle producer's stock valued at $625,000 after acquiring an additional 272 shares in the last quarter. Austin Wealth Management LLC boosted its position in shares of Tesla by 13.1% during the 4th quarter. Austin Wealth Management LLC now owns 2,747 shares of the electric vehicle producer's stock valued at $1,172,000 after acquiring an additional 319 shares in the last quarter. Finally, SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in Tesla during the 4th quarter valued at about $3,927,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America dropped their target price on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Robert W. Baird dropped their price target on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Canaccord Genuity Group restated a "buy" rating and set a $404.00 price objective on shares of Tesla in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Tesla from $125.00 to $135.00 and gave the company an "underweight" rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $326.43.

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Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company's stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 3.8 %

TSLA opened at $230.58 on Wednesday. The company's 50 day moving average is $360.40 and its 200-day moving average is $319.53. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $741.66 billion, a P/E ratio of 113.03, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.

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