Livforsakringsbolaget Skandia Omsesidigt Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the fourth quarter, HoldingsChannel reports. The fund owned 92,092 shares of the electric vehicle producer’s stock after purchasing an additional 7,400 shares during the period. Tesla makes up about 2.0% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 9th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tesla were worth $37,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC raised its position in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Tesla by 36,790.0% during 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 period. Assenagon Asset Management S.A. raised its holdings in shares of Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 3.0 %

Tesla stock opened at $350.73 on Tuesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s fifty day moving average is $408.27 and its 200 day moving average is $304.55. The stock has a market capitalization of $1.13 trillion, a PE ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 635,776 shares of company stock worth $231,335,112. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. Wells Fargo & Company raised their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Piper Sandler raised their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $321.71.

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.