Tesla, Inc. (NASDAQ:TSLA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,515,994 shares of the electric vehicle producer’s stock after selling 41,338 shares during the period. Tesla accounts for approximately 1.9% of New York State Common Retirement Fund’s portfolio, making the stock its 7th biggest holding. New York State Common Retirement Fund’s holdings in Tesla were worth $1,419,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Swedbank AB raised its holdings in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Courier Capital LLC bought a new stake in Tesla during the third quarter worth approximately $262,000. YHB Investment Advisors Inc. raised its holdings in Tesla by 16.7% during the third quarter. YHB Investment Advisors Inc. now owns 2,613 shares of the electric vehicle producer’s stock worth $684,000 after purchasing an additional 374 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after buying an additional 1,059 shares in the last quarter. Finally, Bogart Wealth LLC increased its holdings in shares of Tesla by 80.3% in the third quarter. Bogart Wealth LLC now owns 2,324 shares of the electric vehicle producer’s stock valued at $608,000 after buying an additional 1,035 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on TSLA shares. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Piper Sandler upped their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird lowered their price objective on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $326.50.

Tesla Stock Down 4.7 %

Tesla stock opened at $337.80 on Friday. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a fifty day moving average price of $400.17 and a two-hundred day moving average price of $312.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last quarter. Insiders own 20.70% of the company’s stock.

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.