Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,227,460 shares of the electric vehicle producer’s stock after acquiring an additional 185,014 shares during the period. Nordea Investment Management AB’s holdings in Tesla were worth $510,537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. World Investment Advisors LLC grew its position in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management increased its position in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TSLA shares. Wells Fargo & Company upped their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $283.39.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 514,886 shares of company stock valued at $169,393,831 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $410.44 on Monday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market cap of $1.32 trillion, a P/E ratio of 112.45, a PEG ratio of 10.80 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $362.37 and a two-hundred day moving average of $274.38.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. As a group, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.