Tesla, Inc. (NASDAQ:TSLA) Stock Position Lessened by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 952,491 shares of the electric vehicle producer’s stock after selling 11,537 shares during the quarter. Tesla accounts for approximately 1.8% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 8th biggest position. Skandinaviska Enskilda Banken AB publ’s holdings in Tesla were worth $397,455,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSLA. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter worth approximately $46,000. Parkworth Wealth Management Inc. acquired a new position in Tesla during the 4th quarter worth approximately $47,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the 4th quarter valued at $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 7.6 %

Shares of Tesla stock opened at $248.09 on Thursday. The company has a 50-day moving average of $357.29 and a two-hundred day moving average of $319.03. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $797.99 billion, a PE ratio of 121.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. Evercore ISI increased their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Morgan Stanley reissued a “top pick” rating and set a $430.00 target price on shares of Tesla in a research report on Monday, March 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. Stifel Nicolaus cut their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $325.81.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last 90 days. 20.70% of the stock is currently owned by insiders.

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.