Tesla, Inc. (NASDAQ:TSLA) is Teacher Retirement System of Texas' 9th Largest Position

Teacher Retirement System of Texas raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 71.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 884,980 shares of the electric vehicle producer's stock after buying an additional 369,612 shares during the period. Tesla comprises approximately 1.3% of Teacher Retirement System of Texas' holdings, making the stock its 9th largest position. Teacher Retirement System of Texas' holdings in Tesla were worth $357,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GS Investments Inc. increased its position in shares of Tesla by 193.3% during 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 during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. bought a new position in Tesla in the fourth quarter worth approximately $47,000. PayPay Securities Corp grew its position 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 acquiring an additional 69 shares during the period. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Tesla in the 4th quarter worth $55,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 5.3 %

Shares of NASDAQ:TSLA traded up $12.45 during trading on Friday, reaching $248.71. The stock had a trading volume of 132,093,084 shares, compared to its average volume of 91,269,538. 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 company has a market capitalization of $799.98 billion, a P/E ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50. The firm's 50-day simple moving average is $335.19 and its 200 day simple moving average is $320.44. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

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Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company's stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Truist Financial upped their price target on Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Glj Research restated a "buy" rating on shares of Tesla in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Benchmark assumed coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a "buy" rating and a $475.00 target price on the stock. Finally, UBS Group cut their price target on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $318.93.

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.