Tesla, Inc. $TSLA Shares Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 242,256 shares of the electric vehicle producer’s stock after buying an additional 1,805 shares during the period. Tesla accounts for 1.4% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 10th largest holding. Oregon Public Employees Retirement Fund’s holdings in Tesla were worth $76,955,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TSLA. First Merchants Corp increased its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares during the period. KWB Wealth increased its stake in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the period. Guyasuta Investment Advisors Inc. increased its stake in shares of Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. Finally, Acorn Creek Capital LLC increased its stake in shares of Tesla by 1.6% in the second quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $429.24 on Wednesday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The business’s fifty day moving average is $380.91 and its 200 day moving average is $330.17. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.43 trillion, a P/E ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. CICC Research upped their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Wedbush increased their target price on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Evercore ISI increased their target price on shares of Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday. Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, UBS Group set a $247.00 target price on shares of Tesla in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $363.03.

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.