Livforsakringsbolaget Skandia Omsesidigt Decreases Position in Tesla, Inc. $TSLA

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,356 shares of the electric vehicle producer’s stock after selling 14,170 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tesla were worth $19,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chapman Financial Group LLC bought a new position in shares of Tesla during the second quarter valued at $26,000. Friedenthal Financial increased its holdings in Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 30 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new position in Tesla in the 3rd quarter worth about $30,000. Texas Capital Bancshares Inc TX bought a new position in Tesla during the 3rd quarter valued at about $31,000. Finally, Harborfront Financial Group LLC bought a new stake in shares of Tesla in the second quarter worth approximately $34,000. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $368.16 on Wednesday. The company has a market capitalization of $1.45 trillion, a PE ratio of 340.89, a price-to-earnings-growth ratio of 17.88 and a beta of 1.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. The business’s fifty day moving average is $356.02 and its 200 day moving average is $382.15. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company had revenue of $28.24 billion during the quarter, compared to analysts’ expectations of $26.42 billion. During the same quarter in the previous year, the company earned $0.33 EPS. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. Sell-side analysts predict that Tesla, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Roth Capital reaffirmed a “buy” rating and issued a $505.00 target price on shares of Tesla in a research report on Thursday, July 23rd. Erste Group Bank upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. cut their price objective on Tesla from $475.00 to $445.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. UBS Group set a $460.00 target price on Tesla in a report on Thursday, July 23rd. Finally, Citigroup reissued a “market perform” rating on shares of Tesla in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $401.74.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, becoming the sixth European country to authorize the technology. The decision could support wider European adoption and future high-margin software revenue. Slovenia clears Tesla FSD driver assistance
• Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate for as much as $0.30 less per mile than competing autonomous vehicles if Tesla achieves its targeted $20,000–$30,000 production cost, strengthening the long-term robotaxi business case. Tesla Cybercab cost advantage
• Neutral Sentiment: Tesla has begun limited paid Cybercab rides in Austin, moving its steering-wheel-free robotaxi from concept toward commercial service. However, the small rollout provides little evidence yet regarding pricing, utilization, fleet growth or profitability. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Negative Sentiment: The National Highway Traffic Safety Administration opened a probe into the certification and safety of nearly 1,000 Cybercabs, focusing on the vehicles’ lack of steering wheels and pedals. The investigation could delay expansion and increase regulatory costs. Cybercab certification regulatory probe
• Negative Sentiment: The Cybercab launch was viewed as muted because Tesla did not provide clear economics, production targets or a nationwide rollout schedule. Investors are also comparing Tesla’s limited Austin operation with Waymo’s much larger autonomous ride network. Tesla stock falls after Cybercab launch and NHTSA probe
• Negative Sentiment: Weak demand remains a concern: Tesla’s Chinese retail sales fell 12.4% in August, while European registrations were mixed. A viral video showing a person repeatedly triggering a Cybercab’s emergency braking also raised additional safety questions. Tesla sales in China

About Tesla

Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.

The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.