California State Teachers Retirement System raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 197.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,399,479 shares of the electric vehicle producer’s stock after acquiring an additional 2,920,232 shares during the quarter. Tesla makes up 2.0% of California State Teachers Retirement System’s portfolio, making the stock its 4th biggest position. California State Teachers Retirement System owned 0.14% of Tesla worth $1,166,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Power Corp of Canada boosted its stake in Tesla by 200.0% during the 3rd quarter. Power Corp of Canada now owns 19,452 shares of the electric vehicle producer’s stock valued at $5,160,000 after acquiring an additional 12,968 shares during the last quarter. Pasadena Private Wealth LLC lifted its position in shares of Tesla by 231.9% in the 3rd quarter. Pasadena Private Wealth LLC now owns 2,287 shares of the electric vehicle producer’s stock worth $607,000 after buying an additional 1,598 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in shares of Tesla by 237.4% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 127,557 shares of the electric vehicle producer’s stock worth $33,834,000 after buying an additional 89,752 shares during the last quarter. Horizon Wealth Management LLC lifted its position in shares of Tesla by 995.1% in the 3rd quarter. Horizon Wealth Management LLC now owns 13,765 shares of the electric vehicle producer’s stock worth $3,651,000 after buying an additional 12,508 shares during the last quarter. Finally, Spotlight Asset Group Inc. bought a new position in shares of Tesla in the 3rd quarter worth about $336,000. 43.00% of the stock is currently owned by institutional investors.
Tesla Stock Performance
TSLA stock opened at $180.45 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.53. The stock has a market cap of $570.96 billion, a P/E ratio of 49.80, a P/E/G ratio of 2.10 and a beta of 2.06. The firm has a 50 day simple moving average of $172.56 and a 200 day simple moving average of $198.46. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $384.29.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on TSLA shares. Canaccord Genuity Group reduced their price target on shares of Tesla from $304.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, December 22nd. Cowen increased their price objective on shares of Tesla from $122.00 to $140.00 and gave the stock a “market perform” rating in a report on Thursday, January 26th. Citigroup increased their price objective on shares of Tesla from $137.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Daiwa Capital Markets increased their price objective on shares of Tesla from $200.00 to $218.00 and gave the stock an “outperform” rating in a report on Friday, March 3rd. Finally, Morgan Stanley dropped their price objective on shares of Tesla from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, January 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $221.39.
Insider Buying and Selling
In related news, CFO Zachary Kirkhorn sold 3,752 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at $21,906,926.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $117.50, for a total value of $1,233,750.00. Following the completion of the sale, the senior vice president now directly owns 64,259 shares in the company, valued at $7,550,432.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares of the company’s stock, valued at $21,906,926.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,221 shares of company stock worth $8,988,542. 25.10% of the stock is owned by company insiders.
Tesla Profile
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.
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