Tesla, Inc. $TSLA Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly reduced its Tesla holdings by 65.3%, selling 56,350 shares and leaving it with 29,942 shares valued at approximately $9.46 million.
• Various institutional investors have altered their positions, with Goldman Sachs increasing its stake in Tesla by 322.1% and Vanguard Group raising its position by 1.5%.
• Tesla's recent financial results showed a miss in earnings per share, reporting $0.40 against an expectation of $0.43, and a revenue decline of 11.8% year-over-year.

Livforsakringsbolaget Skandia Omsesidigt lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 65.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,942 shares of the electric vehicle producer's stock after selling 56,350 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Tesla were worth $9,459,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. raised 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 valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Finally, Amundi grew its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. China Renaissance restated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Monday. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a report on Friday, September 5th. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $303.00.

Tesla Price Performance

Shares of TSLA stock opened at $410.04 on Tuesday. The company has a market capitalization of $1.32 trillion, a PE ratio of 237.02, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The firm has a fifty day simple moving average of $331.21 and a 200-day simple moving average of $304.53. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is currently owned by company insiders.

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.

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