Public Sector Pension Investment Board Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• The Public Sector Pension Investment Board increased its stake in Tesla by 22.8% during the first quarter, owning 847,372 shares worth approximately $219.6 million.
• Shares of Tesla currently have a consensus rating of "Hold" among analysts, with an average target price of $303.31 as of recent evaluations.
• Insider transactions revealed significant sales, with Kimbal Musk selling 91,588 shares for over $32 million, demonstrating notable insider trading activity.

Public Sector Pension Investment Board boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 847,372 shares of the electric vehicle producer's stock after purchasing an additional 157,309 shares during the period. Tesla makes up approximately 0.9% of Public Sector Pension Investment Board's portfolio, making the stock its 15th biggest holding. Public Sector Pension Investment Board's holdings in Tesla were worth $219,605,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. AIA Group Ltd boosted its stake in shares of Tesla by 6.6% during the 1st quarter. AIA Group Ltd now owns 113,241 shares of the electric vehicle producer's stock worth $29,348,000 after acquiring an additional 7,015 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in Tesla by 2.1% during the first quarter. Motley Fool Asset Management LLC now owns 149,727 shares of the electric vehicle producer's stock worth $38,803,000 after purchasing an additional 3,008 shares in the last quarter. Operose Advisors LLC grew its holdings in Tesla by 31.2% in the first quarter. Operose Advisors LLC now owns 1,102 shares of the electric vehicle producer's stock valued at $286,000 after purchasing an additional 262 shares during the period. Linscomb Wealth Inc. raised its stake in shares of Tesla by 4.5% during the 1st quarter. Linscomb Wealth Inc. now owns 4,165 shares of the electric vehicle producer's stock worth $1,079,000 after buying an additional 181 shares during the period. Finally, First American Trust FSB lifted its position in shares of Tesla by 7.2% during the 1st quarter. First American Trust FSB now owns 1,534 shares of the electric vehicle producer's stock valued at $398,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. Raymond James Financial lowered Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Trading Up 2.3%

Shares of TSLA stock opened at $329.61 on Monday. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 190.53, a price-to-earnings-growth ratio of 11.46 and a beta of 2.33. Tesla, Inc. has a fifty-two week low of $194.67 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a 50 day moving average price of $318.68 and a 200 day moving average price of $306.71.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company 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%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock worth $214,176,831 in the last quarter. Company insiders own 20.70% of the company's stock.

Tesla Company Profile

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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