Livforsakringsbolaget Skandia Omsesidigt Purchases 2,679 Shares of Tesla, Inc. (NASDAQ:TSLA)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,894 shares of the electric vehicle producer’s stock after buying an additional 2,679 shares during the period. Tesla makes up about 1.3% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 11th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tesla were worth $13,889,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. State Street Corp raised its position in Tesla by 0.7% during the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after purchasing an additional 685,454 shares during the period. Morgan Stanley raised its position in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC raised its position in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the period. Finally, Norges Bank purchased a new stake in Tesla during the fourth quarter valued at approximately $3,459,540,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 1.1 %

NASDAQ TSLA traded down $1.66 during midday trading on Wednesday, hitting $155.45. 82,283,222 shares of the company traded hands, compared to its average volume of 101,923,211. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market cap of $495.08 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39. The company’s 50-day simple moving average is $180.88 and its 200-day simple moving average is $213.04. Tesla, Inc. has a 52 week low of $152.37 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. China Renaissance assumed coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a report on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group reduced their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $197.15.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. 20.90% of the stock is currently owned by corporate insiders.

About Tesla

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.