Public Sector Pension Investment Board Sells 68,242 Shares of Tesla, Inc. (NASDAQ:TSLA)

Public Sector Pension Investment Board cut its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 34.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,018 shares of the electric vehicle producer’s stock after selling 68,242 shares during the quarter. Tesla makes up approximately 0.7% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 28th largest holding. Public Sector Pension Investment Board’s holdings in Tesla were worth $85,536,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TSLA. IFM Investors Pty Ltd raised its position in shares of Tesla by 23.3% in the first quarter. IFM Investors Pty Ltd now owns 136,624 shares of the electric vehicle producer’s stock valued at $147,226,000 after purchasing an additional 25,839 shares during the period. Stiles Financial Services Inc grew its stake in shares of Tesla by 4.8% in the first quarter. Stiles Financial Services Inc now owns 2,412 shares of the electric vehicle producer’s stock valued at $2,632,000 after acquiring an additional 111 shares in the last quarter. Axiom Financial Strategies LLC grew its stake in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares in the last quarter. IFG Advisory LLC grew its stake in shares of Tesla by 1.4% in the first quarter. IFG Advisory LLC now owns 3,599 shares of the electric vehicle producer’s stock valued at $3,878,000 after acquiring an additional 48 shares in the last quarter. Finally, Sandy Spring Bank grew its stake in shares of Tesla by 0.7% in the first quarter. Sandy Spring Bank now owns 2,781 shares of the electric vehicle producer’s stock valued at $2,997,000 after acquiring an additional 19 shares in the last quarter. 43.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Piper Sandler decreased their price target on shares of Tesla from $360.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, September 29th. TheStreet downgraded shares of Tesla from a “b-” rating to a “c+” rating in a research note on Tuesday, November 1st. Royal Bank of Canada reduced their price objective on shares of Tesla from $340.00 to $325.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Tesla from $390.00 to $355.00 and set a “buy” rating on the stock in a research note on Thursday, October 20th. Finally, Needham & Company LLC upgraded shares of Tesla from an “underperform” rating to a “hold” rating in a research note on Thursday, September 15th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $278.43.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $283.00, for a total value of $2,971,500.00. Following the completion of the transaction, the senior vice president now owns 61,701 shares in the company, valued at $17,461,383. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $283.00, for a total transaction of $2,971,500.00. Following the sale, the senior vice president now directly owns 61,701 shares of the company’s stock, valued at $17,461,383. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Elon Musk sold 4,400,000 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $191.63, for a total value of $843,172,000.00. Following the sale, the chief executive officer now directly owns 445,617,432 shares in the company, valued at $85,393,668,494.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,119,001 shares of company stock worth $2,874,560,178. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Up 7.8 %

Shares of TSLA opened at $183.20 on Thursday. The firm has a market cap of $578.50 billion, a P/E ratio of 56.60, a P/E/G ratio of 1.50 and a beta of 1.97. The stock has a 50 day simple moving average of $231.28 and a two-hundred day simple moving average of $249.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04. Tesla, Inc. has a 1 year low of $166.18 and a 1 year high of $402.67.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. The firm had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, analysts forecast that Tesla, Inc. will post 3.61 earnings per share for the current fiscal year.

Tesla Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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