Kentucky Retirement Systems Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kentucky Retirement Systems lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,833 shares of the electric vehicle producer's stock after selling 834 shares during the period. Tesla accounts for about 1.5% of Kentucky Retirement Systems' holdings, making the stock its 10th biggest position. Kentucky Retirement Systems' holdings in Tesla were worth $49,197,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of 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 purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its holdings in shares of 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 purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter valued at approximately $38,000. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated 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 completion of the sale, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada dropped their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Guggenheim reaffirmed a "sell" rating on shares of Tesla in a research report on Friday, June 13th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Friday. Finally, Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $293.67.

Tesla Trading Up 0.0%

Shares of TSLA stock opened at $322.16 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $306.22 and a two-hundred day moving average price of $331.96. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The firm has a market cap of $1.04 trillion, a P/E ratio of 177.01, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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