Varma Mutual Pension Insurance Co Sells 52,074 Shares of Tesla, Inc. (NASDAQ:TSLA)

Varma Mutual Pension Insurance Co lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 440,826 shares of the electric vehicle producer’s stock after selling 52,074 shares during the quarter. Tesla makes up 0.7% of Varma Mutual Pension Insurance Co’s holdings, making the stock its 20th largest holding. Varma Mutual Pension Insurance Co’s holdings in Tesla were worth $87,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Norges Bank purchased a new position in Tesla during the 4th quarter worth $7,844,757,000. Strategic Financial Concepts LLC increased its stake in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

TSLA traded down $19.44 during trading on Friday, reaching $210.73. The company’s stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $224.47 and a two-hundred day simple moving average of $193.60. The company has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Barclays lowered their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $204.21.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 25.10% of the company’s stock.

Tesla 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.