Kentucky Retirement Systems Insurance Trust Fund Invests $20.95 Million in Tesla, Inc. (NASDAQ:TSLA)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 80,855 shares of the electric vehicle producer's stock, valued at approximately $20,954,000. Tesla comprises about 1.5% of Kentucky Retirement Systems Insurance Trust Fund's holdings, making the stock its 10th largest position.

Several other institutional investors have also bought and sold shares of the stock. Wealth Group Ltd. purchased a new stake in Tesla in the 4th quarter valued at about $275,000. Tallon Kerry Patrick purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $374,000. Eagle Capital Management LLC bought a new stake in Tesla during the fourth quarter worth $331,000. Brighton Jones LLC boosted its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada lowered their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. UBS Group lowered their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $293.67.

Insider Buying and Selling at Tesla

In other news, Director Joseph Gebbia bought 4,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was 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 directly owns 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 0.0%

TSLA stock opened at $322.16 on Friday. The company's 50 day moving average is $306.22 and its 200 day moving average is $331.96. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. 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 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the business posted $0.45 EPS. Sell-side analysts predict 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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