Securian Asset Management Inc. Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Securian Asset Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,247 shares of the electric vehicle producer's stock after selling 1,852 shares during the quarter. Tesla accounts for approximately 1.2% of Securian Asset Management Inc.'s holdings, making the stock its 15th largest position. Securian Asset Management Inc.'s holdings in Tesla were worth $38,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC increased its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter worth about $27,000. Finally, True Wealth Design LLC raised its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 1.1%

Shares of Tesla stock traded up $3.39 during trading on Monday, hitting $316.90. The stock had a trading volume of 77,759,201 shares, compared to its average volume of 109,130,633. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm's fifty day simple moving average is $322.60 and its 200-day simple moving average is $319.32. The stock has a market cap of $1.02 trillion, a PE ratio of 174.12, a PEG ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the business earned $0.45 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Finally, Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $300.19.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock worth $279,420,485 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

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.