Lansforsakringar Fondforvaltning AB publ Sells 24,178 Shares of Tesla, Inc. $TSLA

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Tesla, Inc. by 2.6% after selling 24,178 shares, bringing its total ownership to 915,830 shares, valued at approximately $237.35 million.
• Several institutional investors, including Goldman Sachs and Vanguard Group, have significantly increased their holdings in Tesla during the same quarter, indicating strong interest from major financial entities.
• In its latest earnings report, Tesla missed consensus estimates with an EPS of $0.40, down from $0.52 year-over-year, and reported a revenue decline of 11.8% compared to the previous year.

Lansforsakringar Fondforvaltning AB publ lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 915,830 shares of the electric vehicle producer's stock after selling 24,178 shares during the period. Tesla makes up 1.5% of Lansforsakringar Fondforvaltning AB publ's portfolio, making the stock its 11th largest holding. Lansforsakringar Fondforvaltning AB publ's holdings in Tesla were worth $237,347,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Goldman Sachs Group Inc. grew its stake in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tesla during the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC grew its position 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 purchasing an additional 9,776,607 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Tesla by 54.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock worth $2,193,728,000 after purchasing an additional 2,978,026 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction 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 sale, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,564 shares of company stock valued at $9,757,390 in the last ninety days. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $349.60 on Thursday. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 202.08, a PEG ratio of 12.23 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a 50 day simple moving average of $322.87 and a 200 day simple moving average of $303.14. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Bank of America upped their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $303.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.