Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $218.32 Million Stake in Tesla, Inc. $TSLA

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 687,263 shares of the electric vehicle producer’s stock after buying an additional 47,312 shares during the quarter. Tesla comprises 1.1% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 13th largest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tesla were worth $218,316,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Empower Advisory Group LLC grew its stake in Tesla by 12.9% in the 2nd quarter. Empower Advisory Group LLC now owns 642,791 shares of the electric vehicle producer’s stock valued at $204,189,000 after purchasing an additional 73,676 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of Tesla by 14.5% in the 2nd quarter. Foundations Investment Advisors LLC now owns 44,302 shares of the electric vehicle producer’s stock worth $14,073,000 after buying an additional 5,610 shares during the last quarter. CFO4Life Group LLC grew its position in Tesla by 3.8% during the second quarter. CFO4Life Group LLC now owns 4,341 shares of the electric vehicle producer’s stock valued at $1,379,000 after buying an additional 159 shares during the period. Stephenson & Company Inc. purchased a new stake in Tesla during the second quarter worth about $247,000. Finally, Capstone Financial Advisors Inc. raised its position in Tesla by 11.3% in the second quarter. Capstone Financial Advisors Inc. now owns 3,186 shares of the electric vehicle producer’s stock worth $1,012,000 after acquiring an additional 323 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLA shares. Truist Financial raised their price target on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Piper Sandler boosted their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. The Goldman Sachs Group cut their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, HSBC boosted their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $393.61.

Tesla Trading Up 0.6%

Shares of Tesla stock opened at $404.35 on Friday. The company’s 50-day moving average price is $429.67 and its 200-day moving average price is $360.30. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. Tesla’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share 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.