California Public Employees Retirement System increased its position in shares of Tesla Inc. (NASDAQ:TSLA) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,039 shares of the electric vehicle producer’s stock after purchasing an additional 12,500 shares during the period. California Public Employees Retirement System owned 0.19% of Tesla worth $116,091,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of TSLA. FMR LLC grew its stake in shares of Tesla by 10.9% during the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after purchasing an additional 2,400,034 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Tesla by 117.7% during the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock worth $188,630,000 after purchasing an additional 366,400 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Tesla by 2.5% during the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after purchasing an additional 336,130 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after purchasing an additional 292,602 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Tesla by 25.9% during the first quarter. TIAA CREF Investment Management LLC now owns 812,857 shares of the electric vehicle producer’s stock worth $226,218,000 after purchasing an additional 167,348 shares in the last quarter. Hedge funds and other institutional investors own 56.63% of the company’s stock.
Tesla Inc. (TSLA) traded down 1.05% during mid-day trading on Thursday, hitting $370.00. 2,024,890 shares of the stock traded hands. The stock has a 50 day moving average price of $354.97 and a 200 day moving average price of $325.99. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $389.61. The firm’s market cap is $61.75 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.06) EPS. On average, analysts expect that Tesla Inc. will post ($6.35) earnings per share for the current fiscal year.
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In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders sold a total of 53,946 shares of company stock worth $18,481,047 in the last ninety days. Corporate insiders own 23.10% of the company’s stock.
A number of equities research analysts recently weighed in on TSLA shares. Robert W. Baird reissued an “outperform” rating and issued a $411.00 price target on shares of Tesla in a research report on Monday. Jefferies Group LLC started coverage on shares of Tesla in a research report on Tuesday. They issued an “underperform” rating and a $280.00 price target for the company. They noted that the move was a valuation call. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price target for the company in a research report on Tuesday, June 13th. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “neutral” rating in a research report on Wednesday. Finally, BidaskClub cut shares of Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $314.30.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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