Ilmarinen Mutual Pension Insurance Co boosted its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 272,000 shares of the electric vehicle producer’s stock after acquiring an additional 22,000 shares during the period. Tesla accounts for approximately 0.8% of Ilmarinen Mutual Pension Insurance Co’s portfolio, making the stock its 10th largest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Tesla were worth $56,429,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Tesla by 31.9% during the first quarter. Sunbelt Securities Inc. now owns 15,076 shares of the electric vehicle producer’s stock valued at $2,944,000 after buying an additional 3,643 shares during the period. Ashburton Jersey Ltd bought a new stake in shares of Tesla during the first quarter valued at about $139,000. CCM Investment Advisers LLC increased its position in shares of Tesla by 29.2% during the first quarter. CCM Investment Advisers LLC now owns 49,102 shares of the electric vehicle producer’s stock valued at $10,187,000 after buying an additional 11,086 shares during the period. Check Capital Management Inc. CA bought a new stake in shares of Tesla during the first quarter valued at about $312,000. Finally, KB Financial Partners LLC bought a new stake in shares of Tesla during the first quarter valued at about $93,000. 41.87% of the stock is currently owned by institutional investors.
Tesla Price Performance
Shares of Tesla stock opened at $267.48 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The company has a market cap of $848.98 billion, a PE ratio of 75.77, a P/E/G ratio of 3.92 and a beta of 2.09. The business has a 50 day moving average of $256.07 and a 200 day moving average of $219.36. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80.
Insiders Place Their Bets
In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $276.35, for a total value of $690,875.00. Following the completion of the transaction, the senior vice president now owns 62,938 shares in the company, valued at $17,392,916.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total value of $1,000,080.00. Following the sale, the chief financial officer now directly owns 104,504 shares of the company’s stock, valued at $26,128,090.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $276.35, for a total value of $690,875.00. Following the completion of the sale, the senior vice president now directly owns 62,938 shares in the company, valued at $17,392,916.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,815 shares of company stock worth $14,384,135. 25.10% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on TSLA shares. Sanford C. Bernstein reissued an “underperform” rating and set a $150.00 price objective on shares of Tesla in a report on Thursday, July 20th. DZ Bank lowered Tesla from a “buy” rating to a “sell” rating and set a $210.00 price objective for the company. in a report on Friday, June 23rd. Citigroup boosted their price objective on Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Robert W. Baird boosted their price objective on Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Finally, The Goldman Sachs Group boosted their price objective on Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a report on Monday, July 3rd. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $238.77.
Check Out Our Latest Research Report on TSLA
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. It 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, retail merchandise, and vehicle insurance services.
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