California State Teachers Retirement System Sells 123,576 Shares of Tesla, Inc. (NASDAQ:TSLA)

California State Teachers Retirement System lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,501,087 shares of the electric vehicle producer's stock after selling 123,576 shares during the period. Tesla accounts for approximately 2.1% of California State Teachers Retirement System's holdings, making the stock its 6th biggest holding. California State Teachers Retirement System owned 0.14% of Tesla worth $1,817,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the 4th quarter valued at approximately $56,600,000. Destination Wealth Management lifted its position in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after buying an additional 891 shares during the last quarter. Worth Asset Management LLC increased its position in Tesla by 383.1% in the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after acquiring an additional 6,593 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. boosted its position in Tesla by 133.7% during the 4th 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 acquiring an additional 1,629 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia purchased 4,000 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now directly owns 4,111 shares of the company's stock, valued at approximately $1,053,690.41. This represents a 3,603.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Raymond James cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Finally, Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $287.46.

Tesla Stock Performance

NASDAQ:TSLA traded down $9.87 during mid-day trading on Wednesday, hitting $282.16. 128,089,451 shares of the company's stock traded hands, compared to its average volume of 95,653,420. The firm has a market capitalization of $908.82 billion, a price-to-earnings ratio of 138.31, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The firm has a 50 day moving average of $261.24 and a two-hundred day moving average of $323.87. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $167.41 and a 12 month 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 the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the company posted $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.