Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Tesla Inc (NASDAQ:TSLA) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,794 shares of the electric vehicle producer’s stock after selling 2,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Tesla were worth $12,578,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TSLA. Advisors Asset Management Inc. grew its position in shares of Tesla by 257.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,230 shares of the electric vehicle producer’s stock worth $1,108,000 after buying an additional 2,327 shares during the period. Neumann Advisory Hong Kong Ltd boosted its stake in Tesla by 200.0% in the 3rd quarter. Neumann Advisory Hong Kong Ltd now owns 12,000 shares of the electric vehicle producer’s stock worth $3,177,000 after purchasing an additional 8,000 shares in the last quarter. We Are One Seven LLC bought a new position in Tesla in the 3rd quarter worth about $443,000. ACG Wealth boosted its stake in Tesla by 31.2% in the 3rd quarter. ACG Wealth now owns 1,878 shares of the electric vehicle producer’s stock worth $497,000 after purchasing an additional 447 shares in the last quarter. Finally, Daiwa SB Investments Ltd. boosted its stake in Tesla by 68.5% in the 3rd quarter. Daiwa SB Investments Ltd. now owns 17,957 shares of the electric vehicle producer’s stock worth $4,754,000 after purchasing an additional 7,300 shares in the last quarter. 57.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $348.44, for a total value of $5,226,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $360.28, for a total transaction of $360,280.00. Following the completion of the transaction, the insider now owns 8,598 shares in the company, valued at approximately $3,097,687.44. The disclosure for this sale can be found here. Insiders have sold a total of 95,370 shares of company stock worth $31,345,578 in the last 90 days. Company insiders own 22.80% of the company’s stock.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.93. The business had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. The business’s revenue for the quarter was up 119.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.04) EPS. As a group, analysts expect that Tesla Inc will post -5.21 EPS for the current year.
A number of equities analysts recently issued reports on the stock. JMP Securities reiterated a “buy” rating and issued a $412.00 price target on shares of Tesla in a research note on Thursday, October 25th. Evercore ISI set a $299.00 price target on shares of Tesla and gave the stock a “hold” rating in a research note on Thursday, October 4th. Canaccord Genuity upped their price target on shares of Tesla from $316.00 to $323.00 and gave the stock a “hold” rating in a research note on Thursday, October 25th. ValuEngine upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Finally, BidaskClub cut shares of Tesla from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $327.34.
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Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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