Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,875 shares of the electric vehicle producer’s stock after selling 722 shares during the quarter. Tesla accounts for approximately 0.7% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 15th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in Tesla were worth $79,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Norges Bank acquired a new position in Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in 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 acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in 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 acquiring an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares of the company’s stock, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSLA. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Wedbush reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $300.19.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $329.65 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock has a 50 day moving average of $326.27 and a two-hundred day moving average of $316.70. The stock has a market cap of $1.06 trillion, a P/E ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the firm posted $0.45 EPS. On average, research 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.