Forsta AP Fonden Sells 4,500 Shares of Tesla, Inc. $TSLA

Forsta AP Fonden trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 720,700 shares of the electric vehicle producer’s stock after selling 4,500 shares during the period. Tesla accounts for about 1.5% of Forsta AP Fonden’s holdings, making the stock its 10th biggest holding. Forsta AP Fonden’s holdings in Tesla were worth $228,938,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Amundi raised its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a research report on Wednesday, November 5th. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Dbs Bank raised Tesla to a “hold” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $391.08.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. 19.90% of the stock is owned by company insiders.

Tesla Price Performance

Shares of TSLA opened at $439.62 on Wednesday. The company has a market cap of $1.46 trillion, a P/E ratio of 293.08, a PEG ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $425.40 and its 200 day moving average price is $358.68.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate 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 net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 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.