Tesla Inc (TSLA) Shares Bought by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio raised its position in Tesla Inc (NASDAQ:TSLA) by 2.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,347 shares of the electric vehicle producer’s stock after acquiring an additional 2,537 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.05% of Tesla worth $30,985,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of TSLA. Northwest Wealth Management LLC purchased a new stake in Tesla in the second quarter worth about $103,000. Stelac Advisory Services LLC purchased a new stake in Tesla in the second quarter worth about $114,000. BerganKDV Wealth Management LLC purchased a new stake in Tesla in the second quarter worth about $124,000. Institutional & Family Asset Management LLC purchased a new stake in Tesla in the first quarter worth about $114,000. Finally, Wagner Wealth Management LLC purchased a new stake in shares of Tesla during the first quarter worth about $152,000. 62.03% of the stock is currently owned by institutional investors.
In related news, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the sale, the insider now directly owns 8,598 shares of the company’s stock, valued at approximately $2,630,988. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $573,750.00. Following the sale, the director now directly owns 150,208 shares of the company’s stock, valued at $45,963,648. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by company insiders.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.61) by $0.55. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company earned ($1.33) EPS. Tesla’s quarterly revenue was up 43.5% compared to the same quarter last year. As a group, analysts expect that Tesla Inc will post -10.77 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Jefferies Financial Group increased their target price on Tesla from $250.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Nomura reiterated a “neutral” rating and set a $450.00 target price (up previously from $400.00) on shares of Tesla in a research report on Tuesday, September 11th. Morgan Stanley set a $291.00 target price on Tesla and gave the stock a “neutral” rating in a research report on Monday, August 27th. Berenberg Bank reiterated a “buy” rating and set a $500.00 target price on shares of Tesla in a research report on Thursday, June 28th. Finally, Evercore ISI set a $299.00 target price on Tesla and gave the stock a “hold” rating in a research report on Thursday, October 4th. Fifteen analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $306.59.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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