Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 725,200 shares of the electric vehicle producer's stock after selling 22,700 shares during the quarter. Tesla accounts for 1.4% of Forsta AP Fonden's portfolio, making the stock its 10th largest position. Forsta AP Fonden's holdings in Tesla were worth $187,943,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of 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 worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. GAMMA Investing LLC raised its position in Tesla by 27,378.6% in the first 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. Northern Trust Corp lifted its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Tesla by 54.3% in 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 during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA opened at $322.27 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market cap of $1.04 trillion, a PE ratio of 186.28, a PEG ratio of 11.24 and a beta of 2.33. The firm's 50 day moving average price is $319.07 and its 200 day moving average price is $308.84. Tesla, Inc. has a twelve month low of $192.04 and a twelve month 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 for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSLA. The Goldman Sachs Group reduced their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Raymond James Financial lowered Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock worth $214,176,831 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.

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