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

New Mexico Educational Retirement Board lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 130,500 shares of the electric vehicle producer's stock after selling 1,800 shares during the period. Tesla comprises about 1.2% of New Mexico Educational Retirement Board's investment portfolio, 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 and hedge funds also recently made changes to their positions in TSLA. Norges Bank purchased a new stake in Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its position in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on 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 completion of the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

NASDAQ:TSLA traded up $3.64 during trading hours on Friday, hitting $313.51. 78,861,329 shares of the stock traded hands, compared to its average volume of 99,596,575. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. The stock has a 50 day moving average price of $322.60 and a 200 day moving average price of $320.26.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm earned $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Mizuho dropped their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday. 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 research report on Wednesday, April 23rd. Finally, Raymond James Financial cut shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $300.19.

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.