Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires New Holdings in Polestar Automotive Holding UK PLC $PSNY

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 145,586 shares of the company’s stock, valued at approximately $3,111,000.

Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $326,000. California State Teachers Retirement System grew its stake in Polestar Automotive Holding UK by 18.6% in the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock valued at $491,000 after acquiring an additional 72,023 shares during the last quarter. UBS Group AG grew its stake in Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after acquiring an additional 443,359 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after acquiring an additional 57,717 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Polestar Automotive Holding UK by 128.7% in the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock valued at $155,000 after acquiring an additional 92,621 shares during the last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Cantor Fitzgerald cut shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Polestar Automotive Holding UK Trading Up 4.0%

NASDAQ:PSNY opened at $19.65 on Tuesday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -1.01 and a beta of 1.29. The company’s 50-day moving average is $20.04 and its two-hundred day moving average is $113.43. Polestar Automotive Holding UK PLC has a 12-month low of $11.75 and a 12-month high of $42.60.

Insider Transactions at Polestar Automotive Holding UK

In other news, Director Winfried Vahland bought 6,700 shares of Polestar Automotive Holding UK stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $19.72 per share, for a total transaction of $132,124.00. Following the acquisition, the director owned 31,979 shares in the company, valued at approximately $630,625.88. This trade represents a 26.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 4,211 shares of company stock valued at $74,450. 0.02% of the stock is currently owned by corporate insiders.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.