Ilmarinen Mutual Pension Insurance Co Boosts Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in Tesla, Inc. by 7.1%, owning 450,000 shares valued at approximately $116.6 million as of its most recent filing.
• Multiple analysts have recently raised their price targets for Tesla stocks, with Bank of America lifting its target from $305.00 to $341.00 and Benchmark increasing its target to $475.00.
• Insider selling activity has been noted, with SVP Xiaotong Zhu selling 15,000 shares for over $4.8 million, indicating potential shifts in insider confidence.

Ilmarinen Mutual Pension Insurance Co lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 450,000 shares of the electric vehicle producer's stock after purchasing an additional 30,000 shares during the period. Tesla comprises about 1.0% of Ilmarinen Mutual Pension Insurance Co's holdings, making the stock its 11th largest holding. Ilmarinen Mutual Pension Insurance Co's holdings in Tesla were worth $116,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Acorn Wealth Advisors LLC increased its stake in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after buying an additional 36 shares during the period. Solutions 4 Wealth Ltd raised its stake in Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after buying an additional 36 shares in the last quarter. Capital Management Associates Inc lifted its holdings in Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after buying an additional 38 shares during the last quarter. Graney & King LLC boosted its position in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after acquiring an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its holdings in shares of Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock valued at $278,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, UBS Group set a $290.00 price target on Tesla in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $303.00.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the sale, the chief financial officer 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. In the last three months, insiders sold 143,606 shares of company stock worth $49,581,812. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $346.97 on Wednesday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market cap of $1.12 trillion, a P/E ratio of 200.56, a P/E/G ratio of 12.08 and a beta of 2.06. The stock's 50 day simple moving average is $325.50 and its 200 day simple moving average is $302.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

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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