Ilmarinen Mutual Pension Insurance Co Buys 110,000 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ilmarinen Mutual Pension Insurance Co grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,000 shares of the electric vehicle producer’s stock after buying an additional 110,000 shares during the quarter. Tesla accounts for approximately 1.5% of Ilmarinen Mutual Pension Insurance Co’s holdings, making the stock its 11th largest position. Ilmarinen Mutual Pension Insurance Co’s holdings in Tesla were worth $169,613,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TSLA. Principal Financial Group Inc. lifted its position in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares in the last quarter. United Bank purchased a new stake in Tesla in the 3rd quarter worth $287,000. Quarry LP boosted its stake in Tesla by 184.7% during the third quarter. Quarry LP now owns 689 shares of the electric vehicle producer’s stock valued at $180,000 after buying an additional 447 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Tesla by 4.4% during the 3rd quarter. Stifel Financial Corp now owns 516,398 shares of the electric vehicle producer’s stock worth $135,106,000 after acquiring an additional 21,727 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in Tesla in the third quarter worth $690,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. UBS Group dropped their price target on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Truist Financial dropped their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research note on Thursday. HSBC dropped their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Guggenheim decreased their price target on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Finally, Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $312.65.

Tesla Trading Down 10.4 %

TSLA opened at $239.43 on Friday. The business has a fifty day simple moving average of $305.98 and a 200-day simple moving average of $322.90. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market cap of $770.13 billion, a P/E ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla 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.