Tesla, Inc. $TSLA Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 720,700 shares of the electric vehicle producer’s stock after selling 4,500 shares during the period. Tesla accounts for approximately 1.5% of Forsta AP Fonden’s investment portfolio, making the stock its 10th biggest holding. Forsta AP Fonden’s holdings in Tesla were worth $228,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi grew its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. Dbs Bank raised Tesla to a “hold” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Roth Capital set a $505.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Guggenheim reiterated a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Wedbush restated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $391.08.

Tesla Stock Down 1.3%

Tesla stock opened at $439.62 on Wednesday. The stock’s 50 day moving average price is $425.40 and its 200 day moving average price is $358.68. The company has a market cap of $1.46 trillion, a PE ratio of 293.08, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla 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.