Tredje AP fonden Has $4.55 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Tredje AP fonden cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 86.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,000 shares of the electric vehicle producer’s stock after selling 143,422 shares during the quarter. Tredje AP fonden’s holdings in Tesla were worth $4,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its position in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after purchasing an additional 412,872 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $227.20 on Thursday. The company has a market capitalization of $725.82 billion, a P/E ratio of 57.96, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.93. The business has a 50-day simple moving average of $221.44 and a two-hundred day simple moving average of $195.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, September 5th. Barclays reduced their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group lowered their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their price target on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $209.60.

Tesla 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.