New York State Teachers Retirement System Has $745.40 Million Holdings in Tesla, Inc. $TSLA

Key Points

• The New York State Teachers Retirement System reduced its holdings in Tesla, owning approximately $745.4 million worth of the stock, which constitutes about 1.6% of its total investment portfolio.
• Several institutional investors have recently adjusted their stakes in Tesla, with some increasing their holdings by significant percentages, highlighting ongoing interest in the electric vehicle market.
• Insider selling activity included a senior vice president selling 20,000 shares for $7.27 million, indicating a 29.59% decrease in his ownership, amidst a backdrop of declining earnings and revenue compared to the previous year.

New York State Teachers Retirement System lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,346,528 shares of the electric vehicle producer's stock after selling 1,200 shares during the period. Tesla makes up approximately 1.6% of New York State Teachers Retirement System's investment portfolio, making the stock its 9th biggest holding. New York State Teachers Retirement System owned approximately 0.07% of Tesla worth $745,398,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Uptick Partners LLC lifted its stake in Tesla by 11.5% in the second quarter. Uptick Partners LLC now owns 2,482 shares of the electric vehicle producer's stock worth $788,000 after purchasing an additional 256 shares during the last quarter. Copia Wealth Management lifted its stake in Tesla by 21.4% in the second quarter. Copia Wealth Management now owns 863 shares of the electric vehicle producer's stock worth $274,000 after purchasing an additional 152 shares during the last quarter. Keeler & Nadler Financial Planning & Wealth Management bought a new stake in Tesla in the second quarter worth about $226,000. Dock Street Asset Management Inc. lifted its stake in Tesla by 3.2% in the second quarter. Dock Street Asset Management Inc. now owns 2,217 shares of the electric vehicle producer's stock worth $704,000 after purchasing an additional 68 shares during the last quarter. Finally, IFG Advisors LLC lifted its stake in Tesla by 8.5% in the second quarter. IFG Advisors LLC now owns 3,131 shares of the electric vehicle producer's stock worth $995,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ TSLA opened at $428.75 on Friday. The firm's fifty day simple moving average is $385.34 and its two-hundred day simple moving average is $332.07. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Barclays reaffirmed a "negative" rating and set a $350.00 target price (up from $275.00) on shares of Tesla in a research report on Thursday. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. BNP Paribas Exane initiated coverage on shares of Tesla in a research report on Thursday. They set an "underperform" rating and a $307.00 target price on the stock. Finally, Mizuho lifted their price objective on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $363.54.

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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