KLP Kapitalforvaltning AS Increases Position in Tesla, Inc. (NASDAQ:TSLA)

KLP Kapitalforvaltning AS boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 993,210 shares of the electric vehicle producer's stock after acquiring an additional 24,100 shares during the period. Tesla accounts for 1.3% of KLP Kapitalforvaltning AS's portfolio, making the stock its 10th largest holding. KLP Kapitalforvaltning AS's holdings in Tesla were worth $257,400,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC raised its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp grew its position in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 1.1%

NASDAQ:TSLA traded up $3.62 during mid-day trading on Tuesday, hitting $332.11. The company had a trading volume of 76,939,359 shares, compared to its average volume of 98,741,928. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The business's fifty day moving average is $326.27 and its two-hundred day moving average is $316.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.07 trillion, a P/E ratio of 182.48, a P/E/G ratio of 12.52 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last three months. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TSLA shares. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Glj Research restated a "sell" rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Cantor Fitzgerald set a $355.00 price objective on shares of Tesla and gave the stock an "overweight" rating in a research report on Monday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $298.97.

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.