Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Tesla, Inc. (NASDAQ:TSLA) by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 884,980 shares of the electric vehicle producer’s stock after purchasing an additional 369,612 shares during the quarter. Tesla accounts for approximately 1.3% of Teacher Retirement System of Texas’ portfolio, making the stock its 9th largest holding. Teacher Retirement System of Texas’ holdings in Tesla were worth $357,390,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. GS Investments Inc. increased its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter worth about $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $47,000. PayPay Securities Corp raised its holdings in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in Tesla during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Evercore ISI upped their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Piper Sandler boosted their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $321.12.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $235.86 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $758.65 billion, a PE ratio of 115.62, a P/E/G ratio of 5.86 and a beta of 2.50. The stock has a 50 day simple moving average of $341.28 and a 200-day simple moving average of $320.02. 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 (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.