Texas Permanent School Fund Corp Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Texas Permanent School Fund Corp lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% during the 1st quarter, HoldingsChannel reports. The fund owned 572,742 shares of the electric vehicle producer’s stock after purchasing an additional 1,719 shares during the period. Tesla accounts for 0.8% of Texas Permanent School Fund Corp’s portfolio, making the stock its 12th biggest position. Texas Permanent School Fund Corp’s holdings in Tesla were worth $100,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Daymark Wealth Partners LLC raised its position in shares of Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the last quarter. Patten & Patten Inc. TN raised its holdings in Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after acquiring an additional 48 shares during the last quarter. Caerus Investment Advisors LLC raised its holdings in Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after acquiring an additional 49 shares during the last quarter. Salvus Wealth Management LLC raised its holdings in Tesla by 3.2% in the 4th quarter. Salvus Wealth Management LLC now owns 1,617 shares of the electric vehicle producer’s stock valued at $402,000 after acquiring an additional 50 shares during the last quarter. Finally, Monte Financial Group LLC raised its holdings in Tesla by 3.4% in the 4th quarter. Monte Financial Group LLC now owns 1,526 shares of the electric vehicle producer’s stock valued at $379,000 after acquiring an additional 50 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 8.4 %

Shares of TSLA traded down $22.23 during midday trading on Thursday, reaching $241.03. The stock had a trading volume of 220,523,206 shares, compared to its average volume of 99,610,352. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company’s fifty day simple moving average is $190.19 and its two-hundred day simple moving average is $191.41. The company has a market cap of $768.69 billion, a price-to-earnings ratio of 61.49, a PEG ratio of 6.27 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Equities research analysts expect that Tesla, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Barclays cut their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Evercore ISI cut their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. JPMorgan Chase & Co. cut their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $195.39.

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.