Retirement Systems of Alabama Acquires 219,977 Shares of Tesla, Inc. $TSLA

Key Points

• Retirement Systems of Alabama increased its Tesla stake by 26.5% in the third quarter, adding 219,977 shares to reach 1,050,729 shares valued at $372.8 million.
• Analysts’ average rating is “Moderate Buy,” with an average price target of $414.51; ratings include 27 Buys, 16 Holds, and 4 Sells.
• Tesla’s robotaxi expansion supports its growth outlook, but plans to end Cybertruck production around mid-2027 and refund some reservations, alongside weak China retail sales, present potential risks.

Retirement Systems of Alabama lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,729 shares of the electric vehicle producer's stock after purchasing an additional 219,977 shares during the quarter. Tesla comprises about 1.1% of Retirement Systems of Alabama's portfolio, making the stock its 18th biggest position. Retirement Systems of Alabama's holdings in Tesla were worth $372,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peirce Capital Management LLC boosted its holdings in Tesla by 1.5% in the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer's stock worth $697,000 after acquiring an additional 25 shares in the last quarter. Phillip James Consulting Co. increased its holdings in shares of Tesla by 8.7% during the first quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer's stock valued at $121,000 after acquiring an additional 26 shares in the last quarter. Cadence Wealth Management LLC increased its holdings in shares of Tesla by 4.7% during the first quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer's stock valued at $216,000 after acquiring an additional 26 shares in the last quarter. Crumly & Associates Inc. raised its position in shares of Tesla by 0.6% in the 2nd quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer's stock valued at $1,976,000 after purchasing an additional 26 shares during the last quarter. Finally, Brickley Wealth Management raised its position in shares of Tesla by 3.6% in the 2nd quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer's stock valued at $318,000 after purchasing an additional 26 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Thursday, November 5th. CLSA restated an "underperform" rating on shares of Tesla in a research note on Monday, October 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, October 22nd. Stifel Nicolaus set a $475.00 price objective on shares of Tesla in a research note on Thursday, October 22nd. Finally, Canaccord Genuity Group set a $442.00 price objective on shares of Tesla and gave the company a "buy" rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $414.51.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is expanding robotaxi service to San Antonio, its fourth Texas market, and has enlarged the Austin service area. The rollout supports the investment case that autonomous rides could become a significant growth business. Tesla expands robotaxi service to San Antonio
• Positive Sentiment: Musk says Cybertruck orders exceed what Tesla can produce before the line is repurposed for Cybercab. Some investors may view the move as prioritizing a potentially larger robotaxi opportunity, although the production cutoff also carries risks. Tesla to refund many Cybertruck deposits as demand exceeds production, Musk says
• Neutral Sentiment: Shares also benefited from a broader rebound in growth stocks, so the move was not solely driven by Tesla-specific developments. Tesla rises despite Cybertruck refund warning
• Negative Sentiment: Cybertruck production is expected to end around mid-2027, and Tesla says it will refund many reservation deposits it cannot fulfill. The pivot may sacrifice vehicle sales and risks disappointing customers, despite the reported backlog. Musk says Tesla must refund Cybertruck deposits
• Negative Sentiment: Tesla’s retail sales in China fell to their lowest level since July 2022, raising concerns about demand in a key market even as overall China sales reportedly increased. Tesla China sales report
• Negative Sentiment: Valuation-focused commentary warned that Tesla’s forward P/E leaves little room for execution setbacks, while political and regulatory uncertainty could weigh on growth plans. Tesla valuation warning

Tesla Stock Performance

TSLA opened at $378.05 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $297.38 and a 12-month high of $498.83. The firm has a 50 day moving average of $372.73 and a two-hundred day moving average of $384.08. The firm has a market capitalization of $1.49 trillion, a PE ratio of 415.44, a P/E/G ratio of 23.86 and a beta of 1.74.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $28.05 billion for the quarter, compared to the consensus estimate of $28.06 billion. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The business's revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that Tesla, Inc. will post 0.67 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the sale, the chief financial officer directly owned 25,972 shares of the company's stock, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by corporate insiders.

About Tesla

Tesla, Inc designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services.

The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles.

Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.

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