Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Increased by Utah Retirement Systems

Utah Retirement Systems lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.2% during the fourth quarter, Holdings Channel reports. The fund owned 461,092 shares of the electric vehicle producer’s stock after acquiring an additional 1,100 shares during the period. Tesla comprises 2.1% of Utah Retirement Systems’ investment portfolio, making the stock its 6th largest position. Utah Retirement Systems’ holdings in Tesla were worth $186,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Tesla by 21.6% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph Gebbia bought 4,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares in the company, valued at $1,053,690.41. This trade represents a 3,603.60 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Glj Research reiterated a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Mizuho decreased their price objective on shares of Tesla from $375.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $287.46.

Tesla Stock Up 2.2 %

Tesla stock opened at $292.03 on Wednesday. The stock’s 50 day moving average price is $261.24 and its 200 day moving average price is $323.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $940.62 billion, a PE ratio of 143.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.