Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 621,824 shares of the electric vehicle producer's stock after selling 33,313 shares during the period. Tesla accounts for 1.3% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings, making the stock its 13th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Tesla were worth $261,539,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Tesla in the 4th quarter worth about $17,128,100,000. Corient Private Wealth LLC boosted its position in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. Bank of America Corp DE grew its stake in Tesla by 56.0% during the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock worth $9,334,211,000 after purchasing an additional 7,450,766 shares during the period. Cardano Risk Management B.V. grew its stake in Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer's stock worth $3,688,630,000 after purchasing an additional 7,367,507 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares in the last quarter. Institutional investors own 66.20% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Tesla from $475.00 to $445.00 and set a "neutral" rating on the stock in a report on Thursday, July 23rd. Jefferies Financial Group set a $400.00 price objective on shares of Tesla and gave the company a "hold" rating in a research note on Monday, July 13th. Canaccord Genuity Group set a $410.00 target price on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, July 23rd. Zacks Research raised shares of Tesla from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft set a $420.00 price target on shares of Tesla in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nineteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $401.74.
Read Our Latest Research Report on Tesla
More Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Large Tesla Semi order: Swedish trucking company Einride plans to deploy 500 Tesla Semis across North America over the next two years, beginning in September. The order would be the largest Tesla Semi deployment announced so far and could expand Tesla’s commercial-vehicle revenue. Reuters article
- Positive Sentiment: Cybercab rollout advances: Reports indicate Tesla is preparing to begin offering rides in its steering-wheel-free Cybercab in Austin as soon as this month, initially using employees before expanding to public robotaxi service. The launch could provide a high-profile test of Tesla’s autonomous-vehicle strategy. Reuters article
- Positive Sentiment: Robotaxi infrastructure: Tesla has reportedly filed plans for a charging hub with as many as 80 wireless chargers, signaling continued investment in scaling its robotaxi fleet and supporting the Cybercab launch. TipRanks article
- Neutral Sentiment: Amazon relationship: Filings show Amazon holds warrants representing roughly 12% of Einride, with vesting linked to Amazon purchases of freight services. This supports demand for the Semi deployment but does not represent a direct Amazon investment in Tesla. GeekWire article
- Neutral Sentiment: SpaceX speculation: Comments from former Tesla President Jon McNeill have renewed speculation that the Roadster could highlight deeper ties between Tesla and SpaceX, but no merger or transaction has been confirmed.
- Negative Sentiment: Profitability concerns: Coverage highlights Tesla’s return to negative free cash flow and its slim automotive net margin. The company also previously missed quarterly EPS expectations, increasing scrutiny of whether substantial AI and robotaxi investments can generate adequate returns.
- Negative Sentiment: Valuation and analyst warning: Tesla trades at exceptionally high earnings multiples despite subdued profitability. GLJ Research reaffirmed a Sell rating and assigned a $24.86 price target, arguing that Full Self-Driving execution could pressure the stock further. TipRanks article
- Negative Sentiment: Competition and execution risk: Amazon’s Zoox is expanding driverless service into San Francisco and Las Vegas, while investors remain concerned about regulatory approval, fleet costs, and the timing of Tesla’s robotaxi commercialization. Higher Treasury yields may also weigh on richly valued growth stocks.
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 19.90% of the company's stock.
Tesla Stock Performance
Shares of TSLA stock opened at $336.93 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $368.18 and a two-hundred day simple moving average of $388.55. Tesla, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83. The firm has a market capitalization of $1.33 trillion, a PE ratio of 311.98, a price-to-earnings-growth ratio of 17.28 and a beta of 1.83.
Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). The business had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm's quarterly revenue was up 25.5% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. Analysts forecast that Tesla, Inc. will post 0.88 EPS for the current fiscal year.
Tesla Profile
(
Free Report)
Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.
Further Reading
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