Retirement Systems of Alabama Has $219.13 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Retirement Systems of Alabama raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 845,539 shares of the electric vehicle producer’s stock after buying an additional 51,973 shares during the quarter. Tesla accounts for 0.9% of Retirement Systems of Alabama’s investment portfolio, making the stock its 15th largest holding. Retirement Systems of Alabama’s holdings in Tesla were worth $219,130,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Newton One Investments LLC lifted its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the period. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. lifted its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. Pflug Koory LLC lifted its stake in Tesla by 370.4% in the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 100 shares during the period. Finally, GS Investments Inc. lifted its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. BNP Paribas set a $137.00 target price on Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a research report on Friday, June 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $293.67.

Tesla Stock Up 1.8%

Shares of NASDAQ:TSLA opened at $322.05 on Friday. The company has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The business has a fifty day moving average price of $304.81 and a two-hundred day moving average price of $332.35. Tesla, Inc. has a 1 year low of $179.66 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.