Avanza Fonder AB Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Avanza Fonder AB grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,266 shares of the electric vehicle producer’s stock after buying an additional 9,225 shares during the period. Tesla accounts for about 2.4% of Avanza Fonder AB’s investment portfolio, making the stock its 6th largest position. Avanza Fonder AB’s holdings in Tesla were worth $71,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Parsons Capital Management Inc. RI increased its position in Tesla by 0.3% in the first quarter. Parsons Capital Management Inc. RI now owns 15,656 shares of the electric vehicle producer’s stock worth $4,057,000 after purchasing an additional 53 shares during the last quarter. Walker Asset Management LLC increased its position in Tesla by 2.6% in the first quarter. Walker Asset Management LLC now owns 10,993 shares of the electric vehicle producer’s stock worth $2,849,000 after purchasing an additional 277 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in Tesla by 8.9% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 953 shares of the electric vehicle producer’s stock worth $247,000 after purchasing an additional 78 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Tesla by 77.4% in the first quarter. SJS Investment Consulting Inc. now owns 3,966 shares of the electric vehicle producer’s stock worth $1,028,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Paragon Advisors LLC increased its position in Tesla by 0.9% in the first quarter. Paragon Advisors LLC now owns 5,173 shares of the electric vehicle producer’s stock worth $1,341,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. Royal Bank of Canada reduced their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group reduced their price target on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Tesla in a research note on Monday. Finally, TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Stock Performance

TSLA stock opened at $308.58 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50-day moving average price of $292.68 and a 200 day moving average price of $333.20. The company has a market capitalization of $993.92 billion, a P/E ratio of 151.27, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares of the company’s stock, valued at $682,500. This represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 over the last three months. 20.70% of the stock is owned by corporate insiders.

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.