Tesla Inc. (TSLA) Position Boosted by State of Wisconsin Investment Board

State of Wisconsin Investment Board boosted its position in shares of Tesla Inc. (NASDAQ:TSLA) by 34.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 105,586 shares of the electric vehicle producer’s stock after buying an additional 26,840 shares during the period. State of Wisconsin Investment Board owned 0.06% of Tesla worth $38,181,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Lincoln National Corp purchased a new position in Tesla during the first quarter valued at $226,000. Great West Life Assurance Co. Can raised its position in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after buying an additional 1,802 shares during the period. Perigon Wealth Management LLC raised its position in Tesla by 0.9% in the first quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock valued at $2,233,000 after buying an additional 74 shares during the period. Vanguard Group Inc. raised its position in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the period. Finally, Gemmer Asset Management LLC raised its position in Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 62.92% of the company’s stock.

Shares of Tesla Inc. (TSLA) opened at 362.33 on Wednesday. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $386.99. The firm’s market capitalization is $60.47 billion. The firm has a 50-day moving average price of $340.14 and a 200-day moving average price of $309.43.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.06) earnings per share. On average, equities analysts expect that Tesla Inc. will post ($6.34) earnings per share for the current fiscal year.

Several research firms have recently weighed in on TSLA. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 target price for the company in a report on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 target price on shares of Tesla in a report on Tuesday, June 20th. BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $200.00 target price (up from $180.00) on shares of Tesla in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $345.00 target price (up from $314.00) on shares of Tesla in a report on Wednesday, August 9th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. Tesla currently has a consensus rating of “Hold” and an average price target of $310.34.

In related news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.10% of the stock is currently owned by insiders.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.