Tesla Market Insights: AMF Tjanstepension AB Reduces Holdings

AMF Tjanstepension AB Reduces Holdings in Tesla, Inc.

AMF Tjanstepension AB recently disclosed a 1.6% reduction in its holdings of Tesla, Inc. (NASDAQ:TSLA), selling 11,589 shares during the 1st quarter. They now own 713,856 shares of the electric vehicle producer's stock, making it their 26th largest holding, with a value of $125,489,000.

Other institutional investors and hedge funds have also made adjustments to their holdings of Tesla. Mather Group LLC increased its stake by 18.5% in the third quarter, now owning 9,855 shares valued at $2,466,000. Roundview Capital LLC and Private Advisory Group LLC also saw increases in their stakes, while Tower Research Capital LLC TRC and Beacon Bridge Wealth Partners LLC made significant changes to their holdings. Overall, 66.20% of Tesla's stock is currently owned by institutional investors.

Analyst Ratings and Stock Performance

Several research firms have recently provided ratings for TSLA stock. While Morgan Stanley reaffirmed an "overweight" rating with a price target of $310.00, Wells Fargo & Company, Barclays, Canaccord Genuity Group, and Truist Financial all adjusted their price targets. Despite this, Tesla has received a consensus rating of "Hold" with an average price target of $187.30.

Tesla's stock is currently trading at $197.88, with a 50-day moving average of $177.80 and a 200-day moving average of $192.03. The company's market capitalization is $631.08 billion, with a P/E ratio of 50.48. Analysts predict Tesla will post 1.87 EPS for the current year.

Insider Activity and Recommendations

Recent insider activity at Tesla includes the sale of shares by SVP Xiaotong Zhu and SVP Andrew D. Baglino. Insiders have sold a total of 104,855 shares worth $19,285,643 over the last ninety days. It is important to note that 25.10% of the stock is owned by corporate insiders.

About Tesla: Tesla, Inc. is a company that designs, develops, manufactures, leases, and sells electric vehicles, as well as energy generation and storage systems. They operate in the United States, China, and internationally, offering a variety of automotive and energy-related services to their customers.