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

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.2% during the third quarter, Holdings Channel reports. The firm owned 82,149 shares of the electric vehicle producer’s stock after selling 7,343 shares during the quarter. Tesla makes up approximately 1.5% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 10th biggest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Tesla were worth $21,493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. International Assets Investment Management LLC lifted its position in shares of Tesla by 35,611.2% during 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 buying an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP boosted its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Tesla by 21,816.0% in the 2nd 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Tesla in the first quarter valued at about $187,775,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 3.1 %

Shares of NASDAQ TSLA opened at $320.72 on Friday. The firm 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. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $252.30 and a two-hundred day moving average price of $220.46.

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

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock valued at $57,616,781 over the last three months. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Wells Fargo & Company raised their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Nine 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $230.18.

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.