Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 847,372 shares of the electric vehicle producer’s stock after purchasing an additional 157,309 shares during the period. Tesla comprises 0.9% of Public Sector Pension Investment Board’s portfolio, making the stock its 15th largest holding. Public Sector Pension Investment Board’s holdings in Tesla were worth $219,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Navigoe LLC purchased a new position in shares of Tesla during the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Tesla during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Wedbush restated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Performance

NASDAQ:TSLA opened at $329.61 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.06 trillion, a PE ratio of 190.53, a P/E/G ratio of 11.46 and a beta of 2.33. The firm has a 50 day simple moving average of $318.68 and a 200-day simple moving average of $306.71. Tesla, Inc. has a 1-year low of $194.67 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by corporate insiders.

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.