Arizona State Retirement System Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Arizona State Retirement System boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847,858 shares of the electric vehicle producer's stock after acquiring an additional 11,210 shares during the period. Tesla accounts for 1.4% of Arizona State Retirement System's investment portfolio, making the stock its 8th largest holding. Arizona State Retirement System's holdings in Tesla were worth $219,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its position in Tesla by 79.5% in the 4th 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 last quarter. Horrell Capital Management Inc. grew its position in Tesla by 75.6% during 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. GS Investments Inc. increased its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla in the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSLA. HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Glj Research reissued a "sell" rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $300.19.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $313.51 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39. The firm's 50 day simple moving average is $322.60 and its two-hundred day simple moving average is $321.24.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm posted $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.

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