Swedbank AB Sells 351,660 Shares of Tesla, Inc. $TSLA

Swedbank AB lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 31.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 777,772 shares of the electric vehicle producer’s stock after selling 351,660 shares during the quarter. Swedbank AB’s holdings in Tesla were worth $201,567,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TSLA. Vanguard Group Inc. raised its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock valued at $9,908,828,000 after acquiring an additional 158,697 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Finally, Amundi raised its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $368.81 on Friday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a 50-day moving average price of $327.25 and a 200-day moving average price of $302.84. The company has a market cap of $1.19 trillion, a PE ratio of 213.18, a price-to-earnings-growth ratio of 12.13 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,606 shares of company stock valued at $44,724,662 over the last quarter. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. Argus reissued a “hold” rating on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a report on Friday, September 5th. Bank of America upped their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, China Renaissance reaffirmed a “hold” rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.