Retirement Systems of Alabama Has $219.13 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Retirement Systems of Alabama increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 845,539 shares of the electric vehicle producer’s stock after buying an additional 51,973 shares during the quarter. Tesla makes up 0.9% of Retirement Systems of Alabama’s holdings, making the stock its 15th biggest position. Retirement Systems of Alabama’s holdings in Tesla were worth $219,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TSLA. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $322.05 on Friday. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $304.81 and its two-hundred day moving average price is $332.35. The stock has a market cap of $1.04 trillion, a PE ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Argus reissued a “hold” rating on shares of Tesla in a report on Monday, June 9th. Mizuho lifted their target price on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $293.67.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company’s stock.

Tesla Company 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.