Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% in the fourth quarter, according to its most recent 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 makes up 1.5% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 9th biggest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tesla were worth $239,809,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the 4th quarter valued at $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla in the 4th quarter worth $47,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in Tesla during the fourth quarter valued at about $55,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $321.12.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 4.7 %

NASDAQ TSLA opened at $235.86 on Thursday. The stock’s fifty day moving average price is $341.28 and its 200-day moving average price is $320.02. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $758.65 billion, a P/E ratio of 115.62, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.