Swedbank AB Boosts Holdings in Tesla, Inc. $TSLA

Swedbank AB raised its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 591,580 shares of the electric vehicle producer’s stock after acquiring an additional 38,427 shares during the quarter. Swedbank AB’s holdings in Tesla were worth $266,045,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Networth Advisors LLC acquired a new position in shares of Tesla during the fourth quarter worth about $26,000. Chapman Financial Group LLC purchased a new stake in Tesla in the 2nd quarter valued at approximately $26,000. Davidson Capital Management Inc. boosted its holdings in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 27 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Tesla during the 3rd quarter worth approximately $29,000. Finally, Prism Advisors Inc. purchased a new position in shares of Tesla during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 80,213 shares of company stock worth $30,851,105. 19.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. China Renaissance reduced their price target on Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a report on Monday, April 27th. New Street Research increased their price objective on Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Canaccord Genuity Group boosted their target price on shares of Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Tigress Financial began coverage on shares of Tesla in a research note on Monday, April 27th. They set a “buy” rating on the stock. Finally, Bank of America started coverage on shares of Tesla in a report on Wednesday, March 4th. They issued a “buy” rating and a $460.00 price target for the company. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $398.42.

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Tesla Stock Performance

Shares of TSLA stock opened at $389.41 on Wednesday. The stock has a fifty day moving average price of $382.65 and a 200 day moving average price of $418.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The stock has a market cap of $1.46 trillion, a PE ratio of 357.26, a P/E/G ratio of 14.94 and a beta of 1.79. Tesla, Inc. has a 1 year low of $271.00 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.25 earnings per share for the current fiscal year.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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