Tesla, Inc. (NASDAQ:TSLA) is California State Teachers Retirement System’s 6th Largest Position

California State Teachers Retirement System cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,501,087 shares of the electric vehicle producer’s stock after selling 123,576 shares during the quarter. Tesla accounts for about 2.1% of California State Teachers Retirement System’s investment portfolio, making the stock its 6th largest holding. California State Teachers Retirement System’s holdings in Tesla were worth $1,817,719,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Horrell Capital Management Inc. boosted its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its holdings in 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 acquiring an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new position in Tesla during the 4th quarter valued at about $38,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the 4th quarter valued at about $39,000. Finally, Delos Wealth Advisors LLC boosted its holdings in Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 9.8 %

Shares of Tesla stock opened at $284.95 on Monday. The company has a market cap of $916.55 billion, a P/E ratio of 139.68, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The firm has a fifty day moving average of $263.98 and a two-hundred day moving average of $323.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the company posted $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HSBC lowered their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Guggenheim reaffirmed a “sell” rating and issued a $170.00 price target on shares of Tesla in a research report on Thursday. Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a “buy” rating in a research report on Thursday. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $287.46.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.