Livforsakringsbolaget Skandia Omsesidigt Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Livforsakringsbolaget Skandia Omsesidigt cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,292 shares of the electric vehicle producer's stock after selling 5,800 shares during the period. Tesla makes up approximately 1.3% of Livforsakringsbolaget Skandia Omsesidigt's investment portfolio, making the stock its 12th largest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in Tesla were worth $22,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Vista Finance LLC lifted its holdings in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Jmac Enterprises LLC lifted its holdings in shares of Tesla by 0.7% in the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock worth $1,569,000 after acquiring an additional 26 shares during the last quarter. TFB Advisors LLC lifted its holdings in shares of Tesla by 0.5% in the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer's stock worth $2,105,000 after acquiring an additional 27 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in shares of Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock worth $795,000 after acquiring an additional 27 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC increased its stake in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock valued at $875,000 after buying an additional 27 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $293.67.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $0.34 during mid-day trading on Wednesday, reaching $326.43. 121,649,309 shares of the company's stock were exchanged, compared to its average volume of 100,661,913. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $169.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a 50-day moving average price of $293.86 and a two-hundred day moving average price of $333.15.

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

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at $682,500. The trade was a 33.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 818,509 shares of company stock worth $273,791,775. Company insiders own 20.70% of the company's stock.

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.