Retirement Systems of Alabama Sells 102,441 Shares of Tesla, Inc. (NASDAQ:TSLA)

Retirement Systems of Alabama lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 815,985 shares of the electric vehicle producer’s stock after selling 102,441 shares during the quarter. Tesla accounts for 0.8% of Retirement Systems of Alabama’s investment portfolio, making the stock its 14th largest position. Retirement Systems of Alabama’s holdings in Tesla were worth $213,486,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Old Port Advisors bought a new position in shares of Tesla during the 2nd quarter valued at approximately $236,000. Wheelhouse Advisory Group LLC grew its holdings in Tesla by 1.9% during the second quarter. Wheelhouse Advisory Group LLC now owns 4,282 shares of the electric vehicle producer’s stock valued at $847,000 after purchasing an additional 78 shares during the period. Blue Trust Inc. increased its position in Tesla by 20.2% in the second quarter. Blue Trust Inc. now owns 19,947 shares of the electric vehicle producer’s stock worth $3,947,000 after buying an additional 3,356 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Tesla by 20.4% during the 2nd quarter. Brookstone Capital Management now owns 141,287 shares of the electric vehicle producer’s stock valued at $27,958,000 after buying an additional 23,903 shares during the last quarter. Finally, Insight Wealth Partners LLC bought a new position in shares of Tesla during the 2nd quarter worth $272,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $419.35 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $429.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $298.02 and a 200 day moving average of $244.72. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 114.55, a PEG ratio of 10.52 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Finally, Barclays increased their price objective on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $257.36.

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.