Swiss National Bank Purchases 58,800 Shares of Polestar Automotive Holding UK PLC $PSNY

Swiss National Bank raised its position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 195.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,893 shares of the company’s stock after purchasing an additional 58,800 shares during the period. Swiss National Bank owned approximately 0.10% of Polestar Automotive Holding UK worth $1,637,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Polestar Automotive Holding UK in the 4th quarter worth about $160,160,000. UBS Group AG raised its holdings in shares of Polestar Automotive Holding UK by 22.6% during the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after buying an additional 443,359 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Polestar Automotive Holding UK by 12.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after buying an additional 57,717 shares in the last quarter. California State Teachers Retirement System lifted its position in Polestar Automotive Holding UK by 18.6% in the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after buying an additional 72,023 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Polestar Automotive Holding UK in the 2nd quarter worth approximately $326,000. Institutional investors own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSNY. Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Polestar Automotive Holding UK has an average rating of “Sell”.

Polestar Automotive Holding UK Trading Up 1.6%

NASDAQ PSNY opened at $14.40 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of -0.75 and a beta of 1.32. Polestar Automotive Holding UK PLC has a 1-year low of $11.75 and a 1-year high of $42.60. The stock has a 50-day moving average of $18.42 and a 200-day moving average of $18.60.

Insider Transactions at Polestar Automotive Holding UK

In related news, Director Francesca Paola Leandr Gamboni acquired 1,709 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $17.56 per share, with a total value of $30,010.04. Following the completion of the purchase, the director owned 4,792 shares in the company, valued at $84,147.52. This trade represents a 55.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Xiaojie Shen bought 2,436 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was purchased at an average price of $17.31 per share, for a total transaction of $42,167.16. Following the acquisition, the director directly owned 7,369 shares of the company’s stock, valued at approximately $127,557.39. The trade was a 49.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 21,829 shares of company stock valued at $396,522. Insiders own 0.02% of the company’s stock.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.