Livforsakringsbolaget Skandia Omsesidigt Lowers Holdings in Tesla, Inc. $TSLA

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,356 shares of the electric vehicle producer’s stock after selling 14,170 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tesla were worth $19,483,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TSLA. Chapman Financial Group LLC purchased a new position in shares of Tesla in the second quarter worth $26,000. Friedenthal Financial increased its holdings in Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new stake in Tesla in the 3rd quarter worth $30,000. Texas Capital Bancshares Inc TX bought a new position in shares of Tesla during the 3rd quarter valued at about $31,000. Finally, Harborfront Financial Group LLC bought a new position in shares of Tesla during the 2nd quarter valued at about $34,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $368.16 on Wednesday. The firm has a market capitalization of $1.45 trillion, a PE ratio of 340.89, a PEG ratio of 17.88 and a beta of 1.84. The stock’s fifty day moving average is $356.02 and its 200 day moving average is $382.15. Tesla, Inc. has a fifty-two week low of $297.38 and a fifty-two week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The firm had revenue of $28.24 billion for the quarter, compared to analysts’ expectations of $26.42 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Robert W. Baird set a $475.00 target price on Tesla in a report on Monday, July 27th. Glj Research restated a “sell” rating on shares of Tesla in a report on Friday, September 4th. BNP Paribas Exane cut Tesla from a “hold” rating to an “underperform” rating in a report on Friday, June 5th. Mizuho set a $450.00 target price on Tesla and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “market perform” rating on shares of Tesla in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $401.74.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, becoming the sixth European country to authorize the technology. The decision could support wider European adoption and future high-margin software revenue. Slovenia clears Tesla FSD driver assistance
• Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate for as much as $0.30 less per mile than competing autonomous vehicles if Tesla achieves its targeted $20,000–$30,000 production cost, strengthening the long-term robotaxi business case. Tesla Cybercab cost advantage
• Neutral Sentiment: Tesla has begun limited paid Cybercab rides in Austin, moving its steering-wheel-free robotaxi from concept toward commercial service. However, the small rollout provides little evidence yet regarding pricing, utilization, fleet growth or profitability. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Negative Sentiment: The National Highway Traffic Safety Administration opened a probe into the certification and safety of nearly 1,000 Cybercabs, focusing on the vehicles’ lack of steering wheels and pedals. The investigation could delay expansion and increase regulatory costs. Cybercab certification regulatory probe
• Negative Sentiment: The Cybercab launch was viewed as muted because Tesla did not provide clear economics, production targets or a nationwide rollout schedule. Investors are also comparing Tesla’s limited Austin operation with Waymo’s much larger autonomous ride network. Tesla stock falls after Cybercab launch and NHTSA probe
• Negative Sentiment: Weak demand remains a concern: Tesla’s Chinese retail sales fell 12.4% in August, while European registrations were mixed. A viral video showing a person repeatedly triggering a Cybercab’s emergency braking also raised additional safety questions. Tesla sales in China

About Tesla

Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.

The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.