California Public Employees Retirement System Sells 255,803 Shares of Tesla, Inc. (NASDAQ:TSLA)

California Public Employees Retirement System lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,776,404 shares of the electric vehicle producer’s stock after selling 255,803 shares during the quarter. Tesla accounts for 1.7% of California Public Employees Retirement System’s investment portfolio, making the stock its 5th biggest position. California Public Employees Retirement System’s holdings in Tesla were worth $2,180,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. Wedge Capital Management L L P NC lifted its stake in shares of Tesla by 2.2% in the third quarter. Wedge Capital Management L L P NC now owns 3,078 shares of the electric vehicle producer’s stock worth $770,000 after acquiring an additional 66 shares in the last quarter. City Holding Co. lifted its stake in shares of Tesla by 9.2% in the third quarter. City Holding Co. now owns 1,368 shares of the electric vehicle producer’s stock worth $342,000 after acquiring an additional 115 shares in the last quarter. Investment Advisory Group LLC lifted its stake in shares of Tesla by 1.7% in the third quarter. Investment Advisory Group LLC now owns 5,890 shares of the electric vehicle producer’s stock worth $1,474,000 after acquiring an additional 101 shares in the last quarter. LexAurum Advisors LLC lifted its stake in shares of Tesla by 29.0% in the third quarter. LexAurum Advisors LLC now owns 7,820 shares of the electric vehicle producer’s stock worth $1,957,000 after acquiring an additional 1,760 shares in the last quarter. Finally, Rothschild Investment LLC IL lifted its stake in shares of Tesla by 30.9% in the third quarter. Rothschild Investment LLC IL now owns 5,229 shares of the electric vehicle producer’s stock worth $1,308,000 after acquiring an additional 1,234 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a report on Wednesday, March 27th. Barclays lowered their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Truist Financial lowered their price objective on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $194.70.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $5.00 during midday trading on Monday, hitting $142.05. 106,716,266 shares of the company’s stock were exchanged, compared to its average volume of 101,720,281. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The stock’s 50 day moving average price is $178.51 and its 200-day moving average price is $210.88. The firm has a market cap of $452.40 billion, a P/E ratio of 32.78, a PEG ratio of 3.89 and a beta of 2.39. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last ninety days. Company insiders own 25.10% of the company’s stock.

About Tesla

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.