Tesla, Inc. (NASDAQ:TSLA) is New Mexico Educational Retirement Board's 10th Largest Position

New Mexico Educational Retirement Board cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,500 shares of the electric vehicle producer's stock after selling 1,800 shares during the period. Tesla makes up about 1.2% of New Mexico Educational Retirement Board's portfolio, making the stock its 10th biggest holding. New Mexico Educational Retirement Board's holdings in Tesla were worth $33,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla during the 4th quarter worth approximately $56,600,000. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted its stake in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the 4th quarter worth approximately $8,158,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock traded up $6.32 on Thursday, hitting $302.20. The company had a trading volume of 55,347,610 shares, compared to its average volume of 109,207,391. The firm has a market cap of $973.37 billion, a P/E ratio of 165.97, a price-to-earnings-growth ratio of 8.86 and a beta of 2.39. The company has a 50-day moving average price of $321.49 and a 200-day moving average price of $323.10. 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 twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company 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 last year, the firm earned $0.45 EPS. As a group, 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 Tesla stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 over the last quarter. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Tuesday. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $301.13.

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.