Securian Asset Management Inc. Sells 1,485 Shares of Tesla, Inc. $TSLA

Key Points

• Securian Asset Management reduced its Tesla position by 1.9%, selling 1,485 shares and retaining 74,812 shares valued at approximately $31.5 million. Institutional investors collectively own 66.2% of Tesla.
• Tesla shares were trading down 3.8% at $348.95, while the company’s latest quarterly results showed revenue growth of 25.5% year over year but EPS of $0.33, below the $0.50 consensus estimate.
• Analysts maintain a consensus “Hold” rating with an average price target of $401.74; Tesla’s planned robo-taxi expansion, including up to 5,000 vehicles approved in Nevada, remains a key growth catalyst.

Securian Asset Management Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 74,812 shares of the electric vehicle producer's stock after selling 1,485 shares during the quarter. Tesla comprises 1.1% of Securian Asset Management Inc.'s investment portfolio, making the stock its 13th largest holding. Securian Asset Management Inc.'s holdings in Tesla were worth $31,466,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Tesla in the 4th quarter worth approximately $17,128,100,000. Corient Private Wealth LLC raised its holdings in Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock valued at $9,650,811,000 after acquiring an additional 20,810,386 shares during the period. Bank of America Corp DE raised its holdings in Tesla by 56.0% during the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock valued at $9,334,211,000 after acquiring an additional 7,450,766 shares during the period. Cardano Risk Management B.V. lifted its position in shares of Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock worth $3,688,630,000 after acquiring an additional 7,367,507 shares in the last quarter. Finally, H&H International Investment LLC purchased a new stake in shares of Tesla during the first quarter worth $1,267,259,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 3.8%

Shares of TSLA stock opened at $348.95 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. The company has a market capitalization of $1.38 trillion, a PE ratio of 323.10, a price-to-earnings-growth ratio of 18.32 and a beta of 1.83. The business's fifty day moving average is $364.38 and its 200 day moving average is $386.56.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. Tesla's quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 0.88 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. William Blair reiterated a "market perform" rating on shares of Tesla in a research report on Thursday, July 2nd. Citizens Jmp initiated coverage on Tesla in a report on Thursday, July 9th. They set a "market perform" rating on the stock. President Capital raised their target price on Tesla from $424.00 to $428.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. China Renaissance reduced their target price on Tesla from $382.00 to $372.00 and set a "hold" rating for the company in a report on Monday, April 27th. Finally, Zacks Research upgraded Tesla from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $401.74.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Nevada approved Tesla to deploy up to 5,000 robo-taxis, expanding the company’s permitted autonomous-vehicle fleet and supporting its strategy to build a transportation business beyond vehicle sales. Tesla's Robo-Taxi Expansion Takes a Leap Forward
• Positive Sentiment: Tesla plans to launch its wheelless, pedal-less Cybercab in Austin on September 3 and expects to roll out 2,500 robotaxis during 2026. The event could provide investors with evidence of progress toward scaling autonomous ride-hailing. Tesla to launch Cybercabs in Austin starting Sept. 3
• Positive Sentiment: Tesla retained a majority of the U.S. electric-vehicle market in the second quarter, although the overall U.S. EV market is shrinking and Tesla’s international performance remains a concern. Tesla Maintained Its Majority of the U.S. EV Market in Q2

Tesla Company Profile

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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