Mandatum Life Insurance Co Ltd Has $569,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Mandatum Life Insurance Co Ltd raised its position in Tesla, Inc. (NASDAQ:TSLA) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,197 shares of the electric vehicle producer’s stock after purchasing an additional 129 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Tesla were worth $569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $56,600,000. Means Investment CO. Inc. raised its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its stake in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the period. IFM Investors Pty Ltd increased its position in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $8,158,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA traded up $8.39 on Friday, reaching $327.80. 25,910,945 shares of the company’s stock traded hands, compared to its average volume of 98,678,246. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.06 trillion, a PE ratio of 179.86, a PEG ratio of 9.80 and a beta of 2.39. The stock’s 50 day simple moving average is $325.64 and its two-hundred day simple moving average is $317.81. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the business posted $0.45 earnings per share. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. UBS Group set a $290.00 target price on Tesla in a report on Monday, June 30th. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Wedbush reissued an “outperform” rating and set a $500.00 target price on shares of Tesla in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group decreased their target price on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $300.19.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

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.