Tesla, Inc. $TSLA Stake Raised by Danica Pension Livsforsikringsaktieselskab

Key Points

• Danica Pension increased its Tesla holdings by 24.5% in the third quarter, adding 50,517 shares to reach 256,307 shares valued at about $90.9 million.
• Tesla CFO Vaibhav Taneja sold 2,606 shares, a 9.12% reduction in his direct holdings; the sale covered tax withholding on vested equity awards.
• Tesla slightly beat quarterly EPS estimates at $0.48 versus $0.46, while revenue was nearly in line at $28.05 billion and down 0.2% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $414.51.

Danica Pension Livsforsikringsaktieselskab raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 256,307 shares of the electric vehicle producer's stock after buying an additional 50,517 shares during the quarter. Tesla comprises 1.5% of Danica Pension Livsforsikringsaktieselskab's investment portfolio, making the stock its 11th largest position. Danica Pension Livsforsikringsaktieselskab's holdings in Tesla were worth $90,940,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Security National Bank of Sioux City Iowa IA purchased a new stake in Tesla in the second quarter worth $25,000. Harborfront Financial Group LLC bought a new stake in Tesla in the second quarter valued at $34,000. Montgomery Financial Services LLC bought a new stake in Tesla in the second quarter valued at $40,000. Timbuktu Capital Management LLC purchased a new position in Tesla during the 2nd quarter valued at $42,000. Finally, Navigoe LLC purchased a new position in Tesla during the 2nd quarter valued at $45,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer directly owned 25,972 shares in the company, valued at $9,353,296.36. This trade represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by insiders.

More Tesla News

These are some of the TSLA news items that stood out recently:

• Positive Sentiment: Finland’s provisional approval of Tesla’s driver-assistance system adds momentum to its European FSD expansion and could support future software revenue, though broader EU approval is still pending. Article: Finland approves Tesla driver assistance system
• Negative Sentiment: The potential merger faces political headwinds: Texas’ attorney general-elect has pledged “tremendous scrutiny,” and another report flags possible Democratic opposition. Added review could delay or complicate a deal. Article: Texas AG-elect vows scrutiny of SpaceX-Tesla merger
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Analyst Ratings Changes

Several equities analysts recently issued reports on TSLA shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price target on shares of Tesla in a research report on Monday, October 19th. BMO Capital Markets initiated coverage on shares of Tesla in a research note on Monday, August 17th. They issued an "outperform" rating for the company. Canaccord Genuity Group set a $442.00 price objective on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, October 22nd. CLSA reaffirmed an "underperform" rating on shares of Tesla in a research report on Monday, October 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of "Moderate Buy" and an average price target of $414.51.

Tesla Stock Down 1.8%

Shares of Tesla stock traded down $7.23 during midday trading on Friday, hitting $390.22. The company had a trading volume of 32,239,788 shares, compared to its average volume of 40,913,836. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 428.82, a P/E/G ratio of 24.62 and a beta of 1.74. The company has a 50 day moving average of $374.75 and a 200 day moving average of $383.05.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The business had revenue of $28.05 billion for the quarter, compared to the consensus estimate of $28.06 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The company's revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

About Tesla

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.

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