California Public Employees Retirement System Buys 361,135 Shares of Tesla, Inc. $TSLA

California Public Employees Retirement System lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,068,746 shares of the electric vehicle producer’s stock after buying an additional 361,135 shares during the period. Tesla comprises 1.0% of California Public Employees Retirement System’s portfolio, making the stock its 12th biggest holding. California Public Employees Retirement System owned approximately 0.16% of Tesla worth $1,610,138,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. grew its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla during the second quarter worth $29,000. ESL Trust Services LLC increased its holdings in Tesla by 1,900.0% in the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the period. Evergreen Private Wealth LLC raised its stake in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares in the last quarter. Finally, Glynn Capital Management LLC bought a new position in shares of Tesla during the 2nd quarter worth about $35,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on TSLA. HSBC reissued a “reduce” rating on shares of Tesla in a research report on Monday, November 17th. Benchmark reissued a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Industrial Alliance Securities set a $300.00 price objective on Tesla in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $398.92.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 82,606 shares of company stock valued at $33,554,102. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $455.00 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The stock has a market capitalization of $1.51 trillion, a PE ratio of 303.33, a PEG ratio of 15.37 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock’s fifty day moving average is $434.93 and its 200-day moving average is $372.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.