Tesla Inc. (TSLA) Position Cut by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Tesla Inc. (NASDAQ:TSLA) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,665 shares of the electric vehicle producer’s stock after selling 8,025 shares during the period. California State Teachers Retirement System owned 0.14% of Tesla worth $86,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its holdings in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after acquiring an additional 1,802 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Tesla by 0.9% during the first quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock worth $2,233,000 after purchasing an additional 74 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tesla by 5.0% during the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after purchasing an additional 280,941 shares during the period. Main Street Research LLC acquired a new stake in shares of Tesla during the second quarter worth $602,000. Finally, CIBC World Markets Inc. raised its holdings in shares of Tesla by 74.2% during the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after purchasing an additional 4,504 shares during the period. 56.63% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. Sanford C. Bernstein reissued a “market perform” rating and set a $265.00 target price on shares of Tesla in a report on Tuesday, October 3rd. Guggenheim reissued a “buy” rating and set a $430.00 target price on shares of Tesla in a report on Friday. Vetr cut shares of Tesla from a “buy” rating to a “hold” rating and set a $371.10 target price on the stock. in a report on Wednesday, August 9th. Robert W. Baird reissued an “outperform” rating and set a $411.00 target price (up from $368.00) on shares of Tesla in a report on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $210.00 target price on shares of Tesla in a report on Tuesday, October 3rd. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $326.94.

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In other news, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the sale, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $341.69, for a total value of $748,301.10. The disclosure for this sale can be found here. Insiders sold a total of 51,446 shares of company stock worth $17,504,929 in the last 90 days. Company insiders own 23.10% of the company’s stock.

Shares of Tesla Inc. (NASDAQ TSLA) traded up 1.21% during trading on Tuesday, reaching $347.10. 3,405,397 shares of the company traded hands. The stock’s market cap is $57.93 billion. The stock’s 50 day moving average price is $354.06 and its 200-day moving average price is $335.86. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $389.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.06) EPS. On average, equities research analysts expect that Tesla Inc. will post ($6.41) EPS for the current fiscal year.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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