Retirement Systems of Alabama Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Retirement Systems of Alabama cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,020,827 shares of the electric vehicle producer’s stock after selling 14,848 shares during the period. Tesla accounts for 1.1% of Retirement Systems of Alabama’s portfolio, making the stock its 13th largest holding. Retirement Systems of Alabama’s holdings in Tesla were worth $253,655,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at $25,000. Lam Group Inc. bought a new stake in Tesla during the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Kathleen S. Wright Associates Inc. raised its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. Finally, Cordant Inc. purchased a new position in Tesla during the third quarter valued at $53,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Citigroup increased their price objective on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday. HSBC lowered their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group dropped their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $186.70.

Tesla Stock Down 1.1 %

Shares of NASDAQ TSLA traded down $1.89 during midday trading on Friday, reaching $168.29. 109,309,500 shares of the company’s stock traded hands, compared to its average volume of 100,050,800. The company has a market cap of $536.71 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 4.45 and a beta of 2.39. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $175.04 and its 200-day simple moving average is $207.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. On average, analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. 25.10% of the stock is 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.