Kentucky Retirement Systems Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kentucky Retirement Systems lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,294 shares of the electric vehicle producer's stock after selling 15,790 shares during the period. Tesla makes up approximately 1.5% of Kentucky Retirement Systems' portfolio, making the stock its 10th biggest holding. Kentucky Retirement Systems' holdings in Tesla were worth $50,572,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock worth $1,051,613,000 after buying an additional 135,966 shares during the last quarter. National Pension Service boosted its position in shares of Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock worth $1,355,939,000 after buying an additional 688,717 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer's stock valued at $981,443,000 after acquiring an additional 412,872 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA traded up $9.54 during trading hours 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 debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a PEG ratio of 10.73 and a beta of 2.29. The firm has a fifty day simple moving average of $252.30 and a 200-day simple moving average of $220.46. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64.

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

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a report on Wednesday, July 24th. Argus reaffirmed a "buy" rating and issued a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Guggenheim raised their price target on Tesla from $153.00 to $156.00 and gave the stock a "sell" rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.