Livforsakringsbolaget Skandia Omsesidigt Cuts Stake in Polestar Automotive Holding UK PLC $PSNY

Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 96.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,986 shares of the company’s stock after selling 463,595 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Polestar Automotive Holding UK were worth $340,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PSNY. UBS Group AG raised its position in Polestar Automotive Holding UK by 22.6% during the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock worth $2,265,000 after buying an additional 443,359 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Polestar Automotive Holding UK during the 2nd quarter worth $326,000. Bank of America Corp DE raised its position in Polestar Automotive Holding UK by 128.7% during the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock worth $155,000 after buying an additional 92,621 shares during the last quarter. California State Teachers Retirement System raised its position in Polestar Automotive Holding UK by 18.6% during the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after buying an additional 72,023 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in Polestar Automotive Holding UK during the 1st quarter worth $62,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Insider Buying and Selling at Polestar Automotive Holding UK

In related news, Director Winfried Vahland purchased 6,700 shares of the stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $19.72 per share, with a total value of $132,124.00. Following the purchase, the director directly owned 31,979 shares in the company, valued at $630,625.88. This trade represents a 26.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 4,211 shares of company stock worth $74,450. Corporate insiders own 0.02% of the company’s stock.

Polestar Automotive Holding UK Stock Down 2.6%

NASDAQ:PSNY opened at $18.90 on Friday. Polestar Automotive Holding UK PLC has a fifty-two week low of $11.75 and a fifty-two week high of $42.60. The stock has a market cap of $1.76 billion, a PE ratio of -0.97 and a beta of 1.29. The firm’s fifty day simple moving average is $19.98 and its 200-day simple moving average is $119.51.

Wall Street Analysts Forecast Growth

PSNY has been the subject of a number of analyst reports. Cantor Fitzgerald downgraded shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research report on Thursday, February 19th. Weiss Ratings raised shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.