Public Employees Retirement System of Ohio Has $483.70 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Public Employees Retirement System of Ohio reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,197,738 shares of the electric vehicle producer’s stock after selling 54,921 shares during the period. Tesla accounts for 1.7% of Public Employees Retirement System of Ohio’s holdings, making the stock its 8th biggest holding. Public Employees Retirement System of Ohio’s holdings in Tesla were worth $483,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC grew its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. grew its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in Tesla in the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the 4th quarter worth about $38,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.9%

TSLA stock opened at $341.04 on Friday. The company’s 50 day moving average is $275.05 and its 200 day moving average is $332.09. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 167.18, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the company earned $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. HSBC dropped their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Guggenheim reiterated a “sell” rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Argus set a $410.00 target price on shares of Tesla in a research note on Thursday, April 24th. Finally, Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $289.43.

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.