Avanza Fonder AB Has $71.90 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Avanza Fonder AB grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,266 shares of the electric vehicle producer’s stock after purchasing an additional 9,225 shares during the quarter. Tesla comprises about 2.4% of Avanza Fonder AB’s holdings, making the stock its 6th biggest holding. Avanza Fonder AB’s holdings in Tesla were worth $71,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. increased its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla in the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the 4th quarter worth about $38,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research note on Monday. Wedbush set a $500.00 price target on shares of Tesla in a research note on Thursday, June 5th. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler set a $400.00 price objective on shares of Tesla in a research report on Tuesday, May 6th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $293.67.

Tesla Price Performance

NASDAQ TSLA opened at $308.58 on Tuesday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market cap of $993.92 billion, a price-to-earnings ratio of 151.27, a PEG ratio of 5.86 and a beta of 2.47. The company’s 50 day moving average is $292.68 and its two-hundred day moving average is $333.20. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% 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 2,564 shares of Tesla stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now owns 5,924 shares in the company, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 818,509 shares of company stock worth $273,791,775. Company insiders own 20.70% of the company’s stock.

Tesla Company 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.