Teacher Retirement System of Texas Has $244.54 Million Position in Tesla, Inc. $TSLA

Teacher Retirement System of Texas lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 769,809 shares of the electric vehicle producer’s stock after selling 48,107 shares during the period. Tesla comprises about 1.0% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 11th biggest holding. Teacher Retirement System of Texas’ holdings in Tesla were worth $244,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Siren L.L.C. acquired a new stake in shares of Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its stake in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new stake in shares of Tesla in the 1st quarter valued at $594,000. Strs Ohio acquired a new stake in shares of Tesla in the 1st quarter valued at $205,495,000. Finally, IFM Investors Pty Ltd lifted its stake in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Down 3.4%

Tesla stock opened at $433.72 on Monday. The firm has a fifty day moving average price of $398.06 and a two-hundred day moving average price of $341.21. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a P/E/G ratio of 15.45 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. Mizuho boosted their target price on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, HSBC boosted their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $381.00.

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.