Ilmarinen Mutual Pension Insurance Co Raises Position in Tesla, Inc. $TSLA

Ilmarinen Mutual Pension Insurance Co boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 450,000 shares of the electric vehicle producer’s stock after buying an additional 30,000 shares during the quarter. Tesla comprises approximately 1.0% of Ilmarinen Mutual Pension Insurance Co’s investment portfolio, making the stock its 11th biggest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Tesla were worth $116,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Acorn Wealth Advisors LLC grew its holdings in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the period. Solutions 4 Wealth Ltd boosted its holdings in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after purchasing an additional 36 shares during the last quarter. Capital Management Associates Inc grew its stake in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after buying an additional 38 shares during the period. Graney & King LLC increased its holdings in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock worth $63,000 after buying an additional 38 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its position in shares of Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock worth $278,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,606 shares of company stock valued at $49,581,812 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.2%

NASDAQ:TSLA opened at $346.97 on Wednesday. The company has a market cap of $1.12 trillion, a PE ratio of 200.56, a P/E/G ratio of 12.08 and a beta of 2.06. The business’s 50 day moving average is $325.50 and its two-hundred day moving average is $302.26. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TSLA shares. Canaccord Genuity Group raised their price objective on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Bank of America increased their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Piper Sandler reissued an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Finally, Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $303.00.

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.