Avanza Fonder AB Boosts Holdings in Tesla, Inc. $TSLA

Key Points

• Avanza Fonder AB increased its holdings in Tesla by 21.2%, now owning 308,105 shares worth approximately $97.87 million.
• Insider transactions included Director James R. Murdoch selling 120,000 shares for approximately $42 million, reducing his ownership by 14.69%.
• Tesla's stock opened at $426.07 and has a market cap of $1.42 trillion, with analysts generally providing a mixed outlook on the stock's performance.

Avanza Fonder AB lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 308,105 shares of the electric vehicle producer's stock after purchasing an additional 53,839 shares during the quarter. Tesla accounts for approximately 2.9% of Avanza Fonder AB's holdings, making the stock its 6th biggest holding. Avanza Fonder AB's holdings in Tesla were worth $97,873,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew 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 acquiring an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% during the first 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 during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. grew its holdings 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 acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the firm'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 transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 2.2%

Tesla stock opened at $426.07 on Friday. The stock has a market cap of $1.42 trillion, a P/E ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06. 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 twelve month low of $212.11 and a twelve month high of $488.54. The company's 50-day moving average price is $340.68 and its two-hundred day moving average price is $308.35.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Morgan Stanley reissued an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $317.70.

About Tesla

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.

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