National Pension Service Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• The National Pension Service increased its holdings in Tesla, Inc. by 3.3%, owning approximately 5.34 million shares worth around $1.38 billion, making it Tesla's 11th largest holder.
• Multiple institutional investors have significantly increased their positions in Tesla, with Goldman Sachs raising its stake by 322.1%, now holding over 26.5 million shares valued at approximately $6.89 billion.
• Tesla's recent quarterly earnings showed a drop in revenue of 11.8% year-over-year, with an EPS of $0.40, missing the consensus estimate of $0.43.

National Pension Service raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,340,691 shares of the electric vehicle producer's stock after buying an additional 172,845 shares during the period. Tesla comprises about 1.3% of National Pension Service's holdings, making the stock its 11th largest holding. National Pension Service owned about 0.17% of Tesla worth $1,384,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new stake in Tesla in the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC raised its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Northern Trust Corp raised its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock worth $214,176,831 over the last quarter. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA opened at $340.84 on Wednesday. The stock's 50 day moving average is $318.54 and its two-hundred day moving average is $306.48. The firm has a market capitalization of $1.10 trillion, a PE ratio of 197.02, a P/E/G ratio of 11.79 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $197.06 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. Robert W. Baird restated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Wedbush restated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $303.31.

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.

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