Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Forsta AP Fonden

Forsta AP Fonden lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 747,900 shares of the electric vehicle producer’s stock after purchasing an additional 13,200 shares during the period. Tesla comprises 2.1% of Forsta AP Fonden’s portfolio, making the stock its 7th largest holding. Forsta AP Fonden’s holdings in Tesla were worth $302,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patton Fund Management Inc. purchased a new position in Tesla in the 4th quarter worth approximately $6,268,000. Nvest Financial LLC purchased a new position in shares of Tesla in the fourth quarter worth $525,000. Smith Group Asset Management LLC boosted its position in shares of Tesla by 58.1% during the fourth quarter. Smith Group Asset Management LLC now owns 5,226 shares of the electric vehicle producer’s stock worth $2,110,000 after acquiring an additional 1,920 shares during the last quarter. BOCHK Asset Management Ltd purchased a new position in Tesla during the fourth quarter valued at $246,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Tesla by 68.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,373,176 shares of the electric vehicle producer’s stock valued at $554,543,000 after acquiring an additional 555,867 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. UBS Group raised their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $318.31.

Tesla Stock Up 1.1 %

Shares of Tesla stock opened at $404.60 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30. The firm’s 50-day moving average is $404.22 and its two-hundred day moving average is $299.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. As a group, research analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $31,548,461.84. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by company insiders.

Tesla Company Profile

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.