State of Wisconsin Investment Board boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,677,457 shares of the electric vehicle producer’s stock after purchasing an additional 43,343 shares during the period. Tesla makes up approximately 1.2% of State of Wisconsin Investment Board’s portfolio, making the stock its 8th biggest holding. State of Wisconsin Investment Board owned 0.05% of Tesla worth $439,108,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of TSLA. Maryland State Retirement & Pension System increased its stake in shares of Tesla by 3.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 211,295 shares of the electric vehicle producer’s stock valued at $55,311,000 after purchasing an additional 7,176 shares in the last quarter. Pachira Investments Inc. purchased a new stake in shares of Tesla during the second quarter worth approximately $209,000. Sigma Planning Corp raised its position in shares of Tesla by 10.4% in the second quarter. Sigma Planning Corp now owns 76,219 shares of the electric vehicle producer’s stock valued at $19,952,000 after buying an additional 7,154 shares during the last quarter. Deuterium Capital Management LLC purchased a new stake in Tesla during the 2nd quarter valued at about $1,314,000. Finally, Ulland Investment Advisors LLC raised its holdings in Tesla by 72.4% in the 2nd quarter. Ulland Investment Advisors LLC now owns 762 shares of the electric vehicle producer’s stock valued at $199,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.
Tesla Stock Up 2.4 %
TSLA traded up $5.83 during trading hours on Wednesday, hitting $244.55. 52,965,731 shares of the company’s stock were exchanged, compared to its average volume of 138,699,359. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $299.29. The firm has a market cap of $777.41 billion, a P/E ratio of 78.90, a price-to-earnings-growth ratio of 4.59 and a beta of 2.26. The firm has a 50 day moving average of $234.28 and a 200 day moving average of $243.99.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). The company had revenue of $23.35 billion for the quarter, compared to analysts’ expectations of $24.19 billion. Tesla had a return on equity of 21.47% and a net margin of 11.21%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. Analysts predict that Tesla, Inc. will post 2.61 EPS for the current fiscal year.
Insiders Place Their Bets
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $244.32, for a total transaction of $2,565,360.00. Following the completion of the transaction, the senior vice president now owns 68,102 shares in the company, valued at approximately $16,638,680.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $244.32, for a total value of $2,565,360.00. Following the sale, the senior vice president now directly owns 68,102 shares in the company, valued at $16,638,680.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 104,716 shares in the company, valued at $26,179,000. The disclosure for this sale can be found here. Insiders have sold a total of 29,000 shares of company stock worth $6,793,315 in the last quarter. 20.90% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
TSLA has been the topic of several recent research reports. Guggenheim restated a “sell” rating and set a $125.00 target price on shares of Tesla in a report on Thursday, October 19th. Piper Sandler dropped their target price on Tesla from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Morgan Stanley reduced their price target on Tesla from $400.00 to $380.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Roth Mkm reissued a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Thursday, October 19th. Finally, Wells Fargo & Company reduced their target price on shares of Tesla from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 19th. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $232.53.
View Our Latest Analysis on Tesla
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. It 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, retail merchandise, and vehicle insurance services.
Featured Articles
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).
Receive News & Ratings for Tesla Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tesla and related companies with MarketBeat.com’s FREE daily email newsletter.