Swedbank AB Has $172.42 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Swedbank AB reduced its stake in Tesla by 30.2% during the 2nd quarter, selling 234,992 shares and retaining 542,780 shares valued at $172.4 million.
• Multiple hedge funds, including Cherry Tree Wealth Management and First PREMIER Bank, increased their positions in Tesla, reflecting strong institutional interest with hedge funds owning 66.20% of the company's stock.
• Tesla's recent earnings report showed a drop in revenue by 11.8% year-over-year, with an EPS of $0.40, missing analysts' estimates by $0.03.

Swedbank AB lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 542,780 shares of the electric vehicle producer's stock after selling 234,992 shares during the period. Swedbank AB's holdings in Tesla were worth $172,419,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in 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 during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 2.1%

TSLA stock traded down $9.01 during trading hours on Thursday, hitting $416.85. The company's stock had a trading volume of 89,913,873 shares, compared to its average volume of 84,588,880. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.34 trillion, a PE ratio of 240.95, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a 50 day moving average price of $338.43 and a two-hundred day moving average price of $307.09.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,606 shares of company stock worth $77,360,462. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TSLA shares. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Dbs Bank lifted their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday. Guggenheim reissued a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Finally, HSBC reissued a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus target price of $310.79.

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.