California Public Employees Retirement System Has $1.61 Billion Stake in Tesla, Inc. $TSLA

California Public Employees Retirement System boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 makes up about 1.0% of California Public Employees Retirement System’s investment portfolio, making the stock its 12th biggest position. California Public Employees Retirement System’s holdings in Tesla were worth $1,610,138,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Siren L.L.C. bought a new position in Tesla during the 1st quarter worth about $2,332,000. Zuckerman Investment Group LLC grew its holdings in shares of Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Norges Bank acquired a new stake in Tesla in the 2nd quarter valued at approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey lifted its stake in Tesla by 5.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after acquiring an additional 22,607 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new position in Tesla during the 1st quarter worth approximately $594,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on 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 in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 82,606 shares of company stock worth $33,554,102. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TSLA shares. Cowen reiterated a “buy” rating on shares of Tesla in a report on Monday, November 17th. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Tesla in a research note on Wednesday, November 5th. UBS Group restated a “sell” rating on shares of Tesla in a research note on Friday, November 7th. BNP Paribas Exane started coverage on Tesla in a report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective for the company. Finally, Melius assumed coverage on Tesla in a report on Monday, October 13th. They set a “buy” rating and a $520.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $398.92.

Tesla Trading Up 0.1%

Shares of NASDAQ:TSLA 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 company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $1.51 trillion, a P/E ratio of 303.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87. The company has a 50-day simple moving average of $434.93 and a 200 day simple moving average of $372.61.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.