Avanza Fonder AB Has $71.90 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Avanza Fonder AB boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,266 shares of the electric vehicle producer's stock after acquiring an additional 9,225 shares during the quarter. Tesla comprises about 2.4% of Avanza Fonder AB's investment portfolio, making the stock its 6th biggest holding. Avanza Fonder AB's holdings in Tesla were worth $71,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TSLA. HSBC decreased their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Cantor Fitzgerald dropped their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. UBS Group dropped their price objective on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Mizuho boosted their price target on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $170.00 target price on shares of Tesla in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $293.67.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $6.20 during mid-day trading on Friday, reaching $325.31. The company had a trading volume of 128,417,075 shares, compared to its average volume of 100,761,816. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $176.92 and a one year high of $488.54. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The business's 50-day simple moving average is $297.32 and its 200 day simple moving average is $332.97.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.