Teacher Retirement System of Texas Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Teacher Retirement System of Texas cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 817,916 shares of the electric vehicle producer's stock after selling 67,064 shares during the quarter. Tesla accounts for 0.9% of Teacher Retirement System of Texas' portfolio, making the stock its 15th largest position. Teacher Retirement System of Texas' holdings in Tesla were worth $211,971,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $56,600,000. Means Investment CO. Inc. increased its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its position in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the 4th quarter worth approximately $8,158,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% 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 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $315.65 on Thursday. The firm's 50-day moving average is $319.28 and its 200-day moving average is $328.10. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 173.43, a PEG ratio of 11.41 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the company earned $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Royal Bank Of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. HSBC decreased their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $300.64.

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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