Livforsakringsbolaget Skandia Omsesidigt Sells 5,800 Shares of Tesla, Inc. (NASDAQ:TSLA)

Livforsakringsbolaget Skandia Omsesidigt decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 86,292 shares of the electric vehicle producer’s stock after selling 5,800 shares during the quarter. Tesla accounts for about 1.3% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 12th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tesla were worth $22,360,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TSLA. Vista Finance LLC boosted its position in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. Jmac Enterprises LLC boosted its position in shares of Tesla by 0.7% in the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after acquiring an additional 26 shares during the period. TFB Advisors LLC boosted its position in shares of Tesla by 0.5% in the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after acquiring an additional 27 shares during the period. Vista Capital Partners Inc. boosted its position in shares of Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after acquiring an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC boosted its position in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after acquiring an additional 27 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 4.6%

NASDAQ:TSLA opened at $308.58 on Tuesday. The firm has a market capitalization of $993.92 billion, a price-to-earnings ratio of 151.27, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock’s 50 day moving average price is $292.68 and its two-hundred day moving average price is $333.20. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm earned $0.45 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 818,509 shares of company stock worth $273,791,775. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Guggenheim reaffirmed a “sell” rating and issued a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Wedbush set a $500.00 target price on Tesla in a research report on Thursday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.67.

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.