Livforsakringsbolaget Skandia Omsesidigt Decreases Stock Position in Polestar Automotive Holding UK PLC $PSNY

Livforsakringsbolaget Skandia Omsesidigt cut its holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 96.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,986 shares of the company’s stock after selling 463,595 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Polestar Automotive Holding UK were worth $340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PSNY. UBS Group AG boosted its position in shares of 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 worth $2,265,000 after buying an additional 443,359 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter worth about $326,000. Bank of America Corp DE boosted its position in shares of 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 worth $155,000 after buying an additional 92,621 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of 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 worth $491,000 after buying an additional 72,023 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Polestar Automotive Holding UK in the 1st quarter worth about $62,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSNY has been the topic of several recent research reports. Cantor Fitzgerald lowered shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research report on Thursday, February 19th. Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Polestar Automotive Holding UK Trading Down 2.6%

NASDAQ:PSNY opened at $18.90 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -0.97 and a beta of 1.29. The company’s 50-day moving average is $19.98 and its two-hundred day moving average is $119.51. 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.

About Polestar Automotive Holding UK

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.