Polestar Automotive Holding UK (NASDAQ:PSNY) COO Sells $22,100.00 in Stock

Key Points

• COO Jonas Hakan Engstrom sold 1,250 shares at an average price of $17.68 for $22,100, cutting his stake by 33.17% to 2,518 shares; the sale was made to cover tax withholding on vested equity awards.
• Polestar traded down 0.9% to $17.90, has a 52‑week range of $11.75–$42.60 and a market cap of about $1.28 billion, while analysts' average rating on the stock is Sell.
• Institutional moves include Banco Bilbao Vizcaya Argentaria buying a new stake valued at roughly $160.16 million and UBS boosting its position by 22.6% to 2,409,258 shares.

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) COO Jonas Hakan Engstrom sold 1,250 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $17.68, for a total transaction of $22,100.00. Following the sale, the chief operating officer directly owned 2,518 shares of the company's stock, valued at approximately $44,518.24. This represents a 33.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Polestar Automotive Holding UK Trading Down 0.9%

NASDAQ:PSNY traded down $0.16 during midday trading on Wednesday, hitting $17.90. 60,168 shares of the company were exchanged, compared to its average volume of 199,776. Polestar Automotive Holding UK PLC has a fifty-two week low of $11.75 and a fifty-two week high of $42.60. The company has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $244.97. The company has a market capitalization of $1.28 billion, a PE ratio of -0.92 and a beta of 1.29.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of large investors have recently added to or reduced their stakes in PSNY. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Polestar Automotive Holding UK in the 4th quarter valued at about $160,160,000. UBS Group AG boosted its stake in shares of Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company's stock valued at $2,265,000 after purchasing an additional 443,359 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company's stock worth $555,000 after purchasing an additional 57,717 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Polestar Automotive Holding UK by 18.6% in the second quarter. California State Teachers Retirement System now owns 458,629 shares of the company's stock worth $491,000 after buying an additional 72,023 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Polestar Automotive Holding UK during the second quarter valued at approximately $326,000. 1.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald cut shares of Polestar Automotive Holding UK from a "neutral" rating to an "underweight" rating in a report on Thursday, February 19th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Polestar Automotive Holding UK in a research note on Friday, March 27th. Wall Street Zen upgraded Polestar Automotive Holding UK from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Zacks Research upgraded shares of Polestar Automotive Holding UK from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Sell".

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC NASDAQ: PSNY is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.

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