The largest U.S. pension bought $131 million worth of Tesla shares in Q4 2022 at Friday's closing price. As of the end of last year, Calpers owned up to 6.4 million shares in the manufacturer.
The California Public Employees' Retirement System (Calpers) bought up shares in Apple, Tesla, and Disney, while selling about a fifth of its stake in Walmart in Q4 last year. Calpers disclosed information about share transactions, among other things, in a form it filed with the Securities and Exchange Commission, Barron's said. The pension manages approximately $460 billion in assets.
The purchase of Tesla shares was successful, as in 2023, they show growth, after falling by 65% in 2022. In addition to strong financial and operating results for Q4 and all of last year, the company managed to strongly stimulate demand growth at the beginning of the year, while maintaining the highest margins in the industry.
Calpers bought 675,683 additional Tesla shares, which is about $131 million at Friday's closing price. However, keep in mind that the price of their purchase is not disclosed. In Q4 2022, Tesla's share price fluctuated between $242 and $123. If we take the average price of about $183, then the purchase price can be estimated at $123,649,989. As of the end of 2022, the pension owned up to 6.4 million shares.
© 2023, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.
Legal Disclaimer --
This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.