Nordea Investment Management AB Expands Tesla, Inc. (NASDAQ:TSLA) Position

Nordea Investment Management AB Expands Tesla, Inc. (NASDAQ:TSLA) Position

Nordea Investment Management AB raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 776,765 shares of the electric vehicle producer’s stock after acquiring an additional 81,729 shares during the quarter. Nordea Investment Management AB’s holdings in Tesla were worth $193,935,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares during the last quarter. State Street Corp increased its stake in Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after acquiring an additional 4,431,570 shares during the last quarter. Geode Capital Management LLC increased its stake in Tesla by 3.2% during the second quarter. Geode Capital Management LLC now owns 51,656,526 shares of the electric vehicle producer’s stock worth $13,484,212,000 after acquiring an additional 1,608,559 shares during the last quarter. Morgan Stanley increased its stake in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Finally, FMR LLC increased its stake in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the last quarter. 41.87% of the stock is owned by institutional investors.

Tesla Trading Up 0.7 %

NASDAQ TSLA opened at $163.57 on Monday. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm’s fifty day moving average is $196.08 and its two-hundred day moving average is $226.17. The firm has a market cap of $520.94 billion, a PE ratio of 37.95, a P/E/G ratio of 3.81 and a beta of 2.41.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the firm posted $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 2.45 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,598 shares of company stock valued at $36,952,434. 25.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSLA. Truist Financial dropped their target price on Tesla from $227.00 to $193.00 and set a “hold” rating for the company in a research report on Thursday, January 25th. Robert W. Baird reiterated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a report on Thursday, January 25th. Piper Sandler lowered their price target on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 5th. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Wedbush reissued an “outperform” rating and issued a $315.00 price objective on shares of Tesla in a research note on Wednesday, January 31st. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $213.04.

Get Our Latest Stock Report on Tesla

About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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