Skandinaviska Enskilda Banken AB publ Buys 10,155 Shares of Tesla, Inc. (NASDAQ:TSLA)

Skandinaviska Enskilda Banken AB publ grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 687,602 shares of the electric vehicle producer’s stock after purchasing an additional 10,155 shares during the quarter. Tesla comprises about 0.7% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 27th largest position. Skandinaviska Enskilda Banken AB publ’s holdings in Tesla were worth $136,111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Strategic Financial Concepts LLC lifted its position in 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Tesla by 60.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after purchasing an additional 1,072,366 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Finally, HSBC raised their price objective on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $209.60.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $243.92 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. 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 company has a market cap of $777.91 billion, a PE ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29. The business’s fifty day simple moving average is $221.50 and its 200-day simple moving average is $195.49.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share 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 analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.