Public Sector Pension Investment Board Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Public Sector Pension Investment Board cut its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 34.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,018 shares of the electric vehicle producer’s stock after selling 68,242 shares during the period. Tesla comprises 0.7% of Public Sector Pension Investment Board’s portfolio, making the stock its 28th biggest position. Public Sector Pension Investment Board’s holdings in Tesla were worth $85,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Tesla by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 65,171,982 shares of the electric vehicle producer’s stock valued at $70,229,327,000 after purchasing an additional 2,723,410 shares in the last quarter. Northern Trust Corp raised its position in shares of Tesla by 2.5% in the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock worth $9,455,380,000 after acquiring an additional 216,282 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,072,718 shares of the electric vehicle producer’s stock worth $4,388,761,000 after acquiring an additional 197,467 shares in the last quarter. Swiss National Bank raised its position in shares of Tesla by 3.1% in the 2nd quarter. Swiss National Bank now owns 3,810,759 shares of the electric vehicle producer’s stock worth $2,566,241,000 after acquiring an additional 113,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 5.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,241,088 shares of the electric vehicle producer’s stock worth $2,182,613,000 after acquiring an additional 161,056 shares in the last quarter. 43.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $283.00, for a total transaction of $2,971,500.00. Following the transaction, the senior vice president now owns 61,701 shares in the company, valued at $17,461,383. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $283.00, for a total transaction of $2,971,500.00. Following the transaction, the senior vice president now owns 61,701 shares in the company, valued at $17,461,383. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Elon Musk sold 4,400,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $191.63, for a total value of $843,172,000.00. Following the transaction, the chief executive officer now owns 445,617,432 shares in the company, valued at approximately $85,393,668,494.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,119,001 shares of company stock worth $2,874,560,178. 25.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Argus reissued a “buy” rating and issued a $374.00 price target on shares of Tesla in a research report on Friday, August 26th. Roth Capital boosted their price target on Tesla from $83.33 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, October 20th. Wolfe Research reduced their price target on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Truist Financial boosted their price target on Tesla from $333.00 to $348.00 and gave the stock a “buy” rating in a research report on Monday, October 3rd. Finally, Bank of America upped their target price on Tesla from $315.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, October 20th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $278.43.

Tesla Stock Up 7.8 %

Shares of TSLA opened at $183.20 on Thursday. Tesla, Inc. has a 52 week low of $166.18 and a 52 week high of $402.67. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $578.50 billion, a price-to-earnings ratio of 56.60, a PEG ratio of 1.50 and a beta of 1.97. The stock’s 50-day moving average price is $231.28 and its 200-day moving average price is $249.33.

Tesla (NASDAQ:TSLAGet Rating) last issued its earnings results on Wednesday, October 19th. The electric vehicle producer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The firm had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s revenue was up 55.9% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 3.61 EPS for the current year.

Tesla Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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