Tesla, Inc. (NASDAQ:TSLA) Position Cut by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,500 shares of the electric vehicle producer's stock after selling 1,800 shares during the quarter. Tesla accounts for 1.2% of New Mexico Educational Retirement Board's holdings, making the stock its 10th biggest position. New Mexico Educational Retirement Board's holdings in Tesla were worth $33,820,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Rinkey Investments increased its stake in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. Pitti Group Wealth Management LLC increased its stake in shares of Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after purchasing an additional 31 shares in the last quarter. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the period. Finally, Aldebaran Financial Inc. lifted its holdings in Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Royal Bank Of Canada decreased their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Finally, Cantor Fitzgerald dropped their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $301.13.

Tesla Stock Down 0.6%

Shares of Tesla stock traded down $1.93 during trading hours on Wednesday, reaching $295.88. 75,143,508 shares of the company were exchanged, compared to its average volume of 100,727,698. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock's fifty day moving average is $321.21 and its 200 day moving average is $323.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $953.02 billion, a PE ratio of 162.57, a PEG ratio of 8.57 and a beta of 2.39.

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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the company posted $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction 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 sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 829,509 shares of company stock valued at $277,648,925. Insiders own 20.70% of the company's stock.

Tesla Company 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.