Tesla, Inc. (NASDAQ:TSLA) Position Cut by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,767,925 shares of the electric vehicle producer's stock after selling 84,098 shares during the period. Tesla comprises about 1.3% of California Public Employees Retirement System's holdings, making the stock its 11th largest position. California Public Employees Retirement System owned 0.15% of Tesla worth $1,925,479,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC increased its position in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after purchasing an additional 780,026 shares during the last quarter. Finally, Amundi increased its holdings in shares of Tesla by 1.2% in the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer's stock valued at $5,117,345,000 after purchasing an additional 159,508 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday. Truist Financial raised their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Robert W. Baird reduced their price objective on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus cut their price target on Tesla from $474.00 to $455.00 and set a "buy" rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $317.75.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company's stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 1.7 %

TSLA stock traded down $4.39 during midday trading on Monday, hitting $259.16. 133,362,829 shares of the company's stock were exchanged, compared to its average volume of 93,380,672. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $833.59 billion, a price-to-earnings ratio of 127.04, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm has a 50 day moving average price of $321.33 and a 200-day moving average price of $323.01.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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, analysts anticipate 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.