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

Public Sector Pension Investment Board increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 65.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 344,463 shares of the electric vehicle producer’s stock after purchasing an additional 136,340 shares during the period. Public Sector Pension Investment Board’s holdings in Tesla were worth $90,122,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. EMC Capital Management grew its position in Tesla by 200.0% in the first quarter. EMC Capital Management now owns 1,500 shares of the electric vehicle producer’s stock worth $249,000 after acquiring an additional 1,000 shares during the period. Strategic Wealth Partners Ltd. lifted its stake in shares of Tesla by 33.9% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 6,227 shares of the electric vehicle producer’s stock valued at $1,095,000 after purchasing an additional 1,575 shares during the last quarter. Independent Wealth Network Inc. increased its position in shares of Tesla by 6.8% during the 1st quarter. Independent Wealth Network Inc. now owns 1,413 shares of the electric vehicle producer’s stock worth $248,000 after purchasing an additional 90 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Tesla during the 1st quarter worth about $100,000. Finally, Sanibel Captiva Trust Company Inc. lifted its position in Tesla by 186.8% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 20,282 shares of the electric vehicle producer’s stock valued at $3,565,000 after buying an additional 13,209 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research report on Thursday, October 24th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $231.06.

Tesla Stock Performance

NASDAQ TSLA opened at $332.89 on Thursday. The company has a fifty day moving average of $270.63 and a two-hundred day moving average of $229.89. The company has a market capitalization of $1.07 trillion, a PE ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

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.