Tesla, Inc. (NASDAQ:TSLA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,347,728 shares of the electric vehicle producer's stock after selling 103,122 shares during the quarter. Tesla comprises approximately 1.4% of New York State Teachers Retirement System's portfolio, making the stock its 10th largest holding. New York State Teachers Retirement System owned about 0.07% of Tesla worth $608,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC increased its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 1.8%

Tesla stock opened at $317.66 on Tuesday. The stock has a market cap of $1.02 trillion, a PE ratio of 174.54, a P/E/G ratio of 12.20 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. The stock has a 50-day moving average price of $316.73 and a 200 day moving average price of $328.38. 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 data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the firm earned $0.45 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was 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 directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last three months. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TSLA. Royal Bank Of Canada cut their price objective 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. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Barclays lowered their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Raymond James Financial cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $303.00 price target on shares of Tesla in a research note on Monday. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $298.37.

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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