Tesla, Inc. $TSLA Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the second quarter, Holdings Channel.com reports. The firm owned 1,033,510 shares of the electric vehicle producer’s stock after buying an additional 40,300 shares during the quarter. Tesla comprises approximately 1.4% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 8th biggest position. KLP Kapitalforvaltning AS’s holdings in Tesla were worth $328,305,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. increased its position in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. China Renaissance restated a “hold” rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research report on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research report on Saturday, September 27th. Finally, Mizuho upped their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned 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 $344.40.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Down 4.4%

NASDAQ:TSLA opened at $433.09 on Wednesday. The firm’s fifty day moving average is $368.81 and its 200-day moving average is $324.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm has a market cap of $1.44 trillion, a P/E ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.