Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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 biggest position. Thrivent Financial for Lutherans' holdings in Tesla were worth $317,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company's stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSLA. William Blair began coverage on shares of Tesla in a research note on Thursday, August 29th. They set an "outperform" rating on the stock. Wedbush increased their price objective on shares of Tesla from $300.00 to $400.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Piper Sandler raised their target price on shares of Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Argus restated a "buy" rating and issued a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Finally, Truist Financial raised their price target on Tesla from $236.00 to $238.00 and gave the stock a "hold" rating in a research report on Thursday, October 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $230.18.

Tesla Stock Up 3.1 %

TSLA traded up $9.54 on Friday, hitting $320.72. The company had a trading volume of 114,440,286 shares, compared to its average volume of 109,566,312. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a P/E/G 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. The stock has a fifty day moving average price of $252.30 and a 200-day moving average price of $221.01.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Tesla Company Profile

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.