Public Sector Pension Investment Board Acquires 136,340 Shares of Tesla, Inc. (NASDAQ:TSLA)

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

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Bank & Trust Co bought a new stake in Tesla during the second quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group raised its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 1.6 %

Shares of NASDAQ:TSLA opened at $332.89 on Thursday. The firm has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 91.20, a price-to-earnings-growth ratio of 11.00 and a beta of 2.29. The business’s 50 day moving average price is $270.63 and its 200-day moving average price is $229.89. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Bank of America raised their price target on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $231.06.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by corporate insiders.

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.