Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Swedbank AB

Swedbank AB boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,098,717 shares of the electric vehicle producer’s stock after purchasing an additional 29,669 shares during the quarter. Swedbank AB’s holdings in Tesla were worth $287,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zhang Financial LLC boosted its position in shares of Tesla by 4.8% in the third quarter. Zhang Financial LLC now owns 6,338 shares of the electric vehicle producer’s stock worth $1,658,000 after acquiring an additional 290 shares during the last quarter. Hayek Kallen Investment Management purchased a new position in Tesla during the third quarter worth approximately $432,000. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Tesla by 11.1% during the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 2,674 shares of the electric vehicle producer’s stock valued at $669,000 after buying an additional 267 shares during the period. Iams Wealth Management LLC increased its holdings in shares of Tesla by 68.8% during the 3rd quarter. Iams Wealth Management LLC now owns 6,840 shares of the electric vehicle producer’s stock worth $1,790,000 after buying an additional 2,789 shares during the last quarter. Finally, Creative Planning raised its position in shares of Tesla by 28.3% in the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after buying an additional 197,839 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research note on Friday. Royal Bank of Canada raised their price target on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. TD Cowen boosted their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday, September 26th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $210.72.

Tesla Stock Performance

TSLA traded up $1.01 on Tuesday, hitting $220.17. 51,942,199 shares of the company’s stock were exchanged, compared to its average volume of 94,979,805. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $225.84 and a two-hundred day moving average of $204.27. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm has a market cap of $702.17 billion, a PE ratio of 56.14, a P/E/G ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. On average, research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% 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.