Fjarde AP Fonden Fourth Swedish National Pension Fund Has $40.74 Million Position in Tesla, Inc. $TSLA

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 65.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,262 shares of the electric vehicle producer’s stock after selling 246,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Tesla were worth $40,744,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Siren L.L.C. acquired a new stake in shares of Tesla during the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC boosted its position in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new position in Tesla in the first quarter valued at about $594,000. Strs Ohio acquired a new position in Tesla in the first quarter valued at about $205,495,000. Finally, IFM Investors Pty Ltd boosted its position in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after buying an additional 46,087 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Trading Up 4.3%

Shares of NASDAQ TSLA opened at $452.42 on Tuesday. The company’s 50 day simple moving average is $400.41 and its 200 day simple moving average is $342.47. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 301.61, a P/E/G ratio of 15.45 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. Tesla’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. New Street Research boosted their price target on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Finally, Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $381.00.

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.