Tesla, Inc. (NASDAQ:TSLA) Holdings Cut by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,149 shares of the electric vehicle producer's stock after selling 7,343 shares during the period. Tesla makes up about 1.5% of Kentucky Retirement Systems Insurance Trust Fund's portfolio, making the stock its 10th largest holding. Kentucky Retirement Systems Insurance Trust Fund's holdings in Tesla were worth $21,493,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at about $29,000. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter worth approximately $25,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter worth approximately $26,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $9.54 during mid-day trading on Friday, hitting $320.72. 114,440,286 shares of the company were exchanged, compared to its average volume of 96,026,047. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.87, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The stock has a 50 day simple moving average of $252.30 and a 200-day simple moving average of $220.46. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. Royal Bank of Canada raised their price objective on Tesla from $249.00 to $313.00 and gave the company an "outperform" rating in a report on Friday. Cantor Fitzgerald reissued a "neutral" rating and issued a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Robert W. Baird reaffirmed an "outperform" rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, KGI Securities upgraded Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price target for the company in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $230.18.

Tesla Company Profile

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.