Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,294 shares of the electric vehicle producer’s stock after selling 15,790 shares during the quarter. Tesla accounts for 1.5% of Kentucky Retirement Systems’ investment portfolio, making the stock its 10th largest position. Kentucky Retirement Systems’ holdings in Tesla were worth $50,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth $29,000. Finally, Clean Yield Group boosted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $320.72 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a 50-day moving average of $252.30 and a 200-day moving average of $220.46. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Roth Mkm restated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Truist Financial increased their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, Argus reaffirmed a “buy” rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $230.18.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is currently owned by insiders.

Tesla 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.