Tesla, Inc. (NASDAQ:TSLA) is Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s 9th Largest Position

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 593,823 shares of the electric vehicle producer’s stock after selling 10,181 shares during the period. Tesla comprises 1.5% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s portfolio, making the stock its 9th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tesla were worth $239,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB raised its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the period. Principal Financial Group Inc. raised its stake in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank purchased a new position in shares of Tesla during the 3rd quarter valued at about $287,000. SouthState Corp grew its stake in shares of Tesla by 11.0% during the 3rd quarter. SouthState Corp now owns 2,989 shares of the electric vehicle producer’s stock valued at $782,000 after acquiring an additional 297 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Tesla by 12.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 468,774 shares of the electric vehicle producer’s stock worth $122,645,000 after acquiring an additional 52,974 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $235.86 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $758.65 billion, a price-to-earnings ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50. The business’s fifty day simple moving average is $341.28 and its two-hundred day simple moving average is $320.02. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 target price on shares of Tesla in a report on Monday, March 3rd. UBS Group decreased their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a report on Monday, March 10th. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $321.12.

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.