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

Forsta AP Fonden grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.4% in the third quarter, HoldingsChannel reports. The fund owned 734,700 shares of the electric vehicle producer’s stock after acquiring an additional 75,100 shares during the period. Tesla makes up 1.5% of Forsta AP Fonden’s portfolio, making the stock its 9th largest position. Forsta AP Fonden’s holdings in Tesla were worth $192,220,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group raised its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Tesla Stock Up 3.3 %

TSLA traded up $8.71 during trading on Friday, hitting $269.19. 161,611,931 shares of the company’s stock traded hands, compared to its average volume of 94,680,352. The company’s 50 day simple moving average is $229.47 and its two-hundred day simple moving average is $206.79. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSLA shares. Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho increased their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Thursday. Finally, William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $219.00.

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.