Mandatum Life Insurance Co Ltd reduced its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 73.8% during the 4th quarter, Holdings Channel reports. The fund owned 2,068 shares of the electric vehicle producer’s stock after selling 5,838 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Tesla were worth $835,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter worth about $29,000. Clean Yield Group boosted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Stock Down 0.6 %
Shares of NASDAQ:TSLA opened at $424.07 on Wednesday. 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 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.36 trillion, a PE ratio of 116.18, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. The company has a fifty day simple moving average of $391.47 and a 200 day simple moving average of $290.05.
Insiders Place Their Bets
In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 in the last quarter. Insiders own 20.70% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Guggenheim upped their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $304.94.
Read Our Latest Research Report on TSLA
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.
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