Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,292 shares of the electric vehicle producer’s stock after selling 5,800 shares during the quarter. Tesla makes up about 1.3% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 12th largest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tesla were worth $22,360,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla in the fourth quarter worth $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its holdings in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC lifted its stake in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $308.58 on Tuesday. The stock’s 50-day moving average price is $292.68 and its two-hundred day moving average price is $333.20. 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 $993.92 billion, a PE ratio of 151.27, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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 company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock valued at $273,791,775 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Piper Sandler set a $400.00 target price on Tesla in a research note on Tuesday, May 6th. HSBC cut their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Mizuho raised their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, BNP Paribas set a $137.00 target price on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $293.67.

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.