Lansforsakringar Fondforvaltning AB publ Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 940,008 shares of the electric vehicle producer's stock, valued at approximately $379,613,000. Tesla makes up 4.5% of Lansforsakringar Fondforvaltning AB publ's holdings, making the stock its 3rd biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Wealth Group Ltd. purchased a new position in Tesla during the fourth quarter worth about $275,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Tesla during the 4th quarter valued at about $1,361,000. Tallon Kerry Patrick purchased a new position in shares of Tesla during the 4th quarter valued at about $374,000. Eagle Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $331,000. Finally, Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TSLA shares. Wall Street Zen cut Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $293.97.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. This represents a 20.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. The trade was a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 984,783 shares of company stock worth $320,019,942 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Stock Down 2.6%

Shares of Tesla stock traded down $9.34 during midday trading on Friday, hitting $349.09. The company had a trading volume of 122,996,137 shares, compared to its average volume of 98,033,976. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a 50 day moving average of $286.92 and a 200 day moving average of $333.95. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54.

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

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.