Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 246,000 Shares of Tesla, Inc. $TSLA

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 65.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,262 shares of the electric vehicle producer’s stock after selling 246,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Tesla were worth $40,744,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares during the period. Bison Wealth LLC boosted its holdings in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Tesla by 6.4% in the first quarter. Golden State Wealth Management LLC now owns 17,619 shares of the electric vehicle producer’s stock valued at $4,566,000 after buying an additional 1,053 shares during the period. Finally, Colonial River Investments LLC boosted its holdings in shares of Tesla by 60.3% in the first quarter. Colonial River Investments LLC now owns 9,824 shares of the electric vehicle producer’s stock valued at $2,546,000 after buying an additional 3,695 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. Cantor Fitzgerald set a $510.00 price target on shares of Tesla and gave the company an “overweight” rating in a report on Thursday. Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley restated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Evercore ISI reduced their target price on shares of Tesla from $300.00 to $235.00 in a report on Friday. Finally, Guggenheim restated a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $381.00.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. 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 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $452.42 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $400.41 and its two-hundred day moving average price is $342.47. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 301.61, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.