KLP Kapitalforvaltning AS Has $488.35 Million Holdings in Tesla, Inc. $TSLA

KLP Kapitalforvaltning AS increased its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,098,110 shares of the electric vehicle producer’s stock after acquiring an additional 64,600 shares during the quarter. Tesla comprises 1.9% of KLP Kapitalforvaltning AS’s holdings, making the stock its 8th largest holding. KLP Kapitalforvaltning AS’s holdings in Tesla were worth $488,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC boosted its position in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Tesla by 55.3% during the first quarter. Jones Financial Companies Lllp now owns 239,337 shares of the electric vehicle producer’s stock worth $63,064,000 after purchasing an additional 85,208 shares during the period. Finally, Nova Wealth Management Inc. increased its holdings in Tesla by 92.5% in the first quarter. Nova Wealth Management Inc. now owns 1,199 shares of the electric vehicle producer’s stock worth $311,000 after purchasing an additional 576 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 2.1%

NASDAQ:TSLA opened at $445.01 on Friday. 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, Inc. has a one year low of $214.25 and a one year high of $498.83. The company has a market cap of $1.48 trillion, a PE ratio of 296.67, a PEG ratio of 7.01 and a beta of 1.83. The firm has a 50-day moving average of $444.28 and a 200-day moving average of $394.74.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. BNP Paribas increased their price target on Tesla from $307.00 to $313.00 in a report on Monday, December 1st. CICC Research boosted their target price on shares of Tesla from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Evercore ISI raised their price target on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. Finally, President Capital cut their price objective on shares of Tesla from $529.00 to $517.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $408.54.

View Our Latest Research Report on TSLA

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the transaction, the director owned 577,031 shares in the company, valued at approximately $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 119,457 shares of company stock worth $53,501,145. 19.90% of the stock is owned by corporate insiders.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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