Illinois Municipal Retirement Fund Has $30.95 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Illinois Municipal Retirement Fund lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 119,423 shares of the electric vehicle producer’s stock after acquiring an additional 26,315 shares during the period. Illinois Municipal Retirement Fund’s holdings in Tesla were worth $30,950,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its holdings in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC lifted its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 0.7%

Shares of NASDAQ:TSLA opened at $323.63 on Friday. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a 50 day moving average of $314.93 and a 200-day moving average of $330.48. 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 stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.82, a P/E/G ratio of 12.18 and a beta of 2.47.

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 the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $298.37.

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. 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.