California State Teachers Retirement System lifted its stake in Tesla Inc (NASDAQ:TSLA) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,344 shares of the electric vehicle producer’s stock after acquiring an additional 2,886 shares during the quarter. California State Teachers Retirement System owned 0.13% of Tesla worth $68,604,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in TSLA. Wealthcare Advisory Partners LLC bought a new stake in shares of Tesla in the third quarter worth approximately $100,000. Truewealth LLC bought a new stake in shares of Tesla in the fourth quarter worth approximately $102,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Tesla in the third quarter worth approximately $106,000. Avestar Capital LLC bought a new stake in shares of Tesla in the fourth quarter worth approximately $144,000. Finally, FDx Advisors Inc. bought a new stake in shares of Tesla in the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 58.30% of the company’s stock.
In other news, VP Eric Branderiz sold 801 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $354.58, for a total value of $284,018.58. Following the transaction, the vice president now owns 1,287 shares of the company’s stock, valued at $456,344.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 4,065 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total transaction of $1,268,605.20. Following the completion of the transaction, the director now directly owns 154,589 shares in the company, valued at approximately $48,244,135.12. The disclosure for this sale can be found here. Insiders sold 7,719 shares of company stock worth $2,506,406 in the last three months. Insiders own 23.10% of the company’s stock.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, topping the consensus estimate of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 33.08%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the firm earned ($0.69) earnings per share. The company’s quarterly revenue was up 43.9% compared to the same quarter last year. equities research analysts forecast that Tesla Inc will post -15.15 EPS for the current fiscal year.
A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Vetr lowered shares of Tesla from a “hold” rating to a “sell” rating and set a $341.15 price target for the company. in a research note on Monday, February 26th. Zacks Investment Research lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. KeyCorp reiterated a “hold” rating on shares of Tesla in a research note on Tuesday. Finally, Piper Jaffray Companies set a $385.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, February 8th. Thirteen investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $321.86.
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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.
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