Arizona State Retirement System Acquires 13,670 Shares of Tesla, Inc. (NASDAQ:TSLA)

Arizona State Retirement System boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 836,648 shares of the electric vehicle producer’s stock after buying an additional 13,670 shares during the quarter. Tesla comprises 2.1% of Arizona State Retirement System’s portfolio, making the stock its 6th biggest holding. Arizona State Retirement System’s holdings in Tesla were worth $337,872,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Swedbank AB grew its position in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $403,000. Heritage Investors Management Corp acquired a new stake in shares of Tesla in the third quarter valued at about $232,000. Crestwood Advisors Group LLC grew its position in shares of Tesla by 10.0% in the third quarter. Crestwood Advisors Group LLC now owns 9,700 shares of the electric vehicle producer’s stock valued at $2,538,000 after purchasing an additional 878 shares during the last quarter. Finally, Beacon Financial Advisory LLC grew its position in shares of Tesla by 6.8% in the third quarter. Beacon Financial Advisory LLC now owns 7,300 shares of the electric vehicle producer’s stock valued at $1,910,000 after purchasing an additional 467 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock opened at $279.10 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. The firm has a 50 day simple moving average of $374.97 and a 200 day simple moving average of $318.13. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,386 shares of company stock valued at $153,916,675 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Bank of America lowered their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus reduced their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $315.33.

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.