New York State Common Retirement Fund Has $930.71 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

New York State Common Retirement Fund cut its position in Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,557,332 shares of the electric vehicle producer’s stock after selling 125,465 shares during the period. Tesla accounts for approximately 1.3% of New York State Common Retirement Fund’s investment portfolio, making the stock its 11th biggest holding. New York State Common Retirement Fund’s holdings in Tesla were worth $930,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new position in shares of Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group increased its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 0.1 %

Shares of Tesla stock traded up $0.17 on Friday, hitting $250.02. The stock had a trading volume of 8,072,189 shares, compared to its average volume of 93,945,570. The stock’s 50-day simple moving average is $233.56 and its two-hundred day simple moving average is $209.78. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.54. 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 market cap of $802.58 billion, a price-to-earnings ratio of 68.45, a PEG ratio of 8.49 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TSLA shares. Jefferies Financial Group increased their price objective on shares of Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research note on Monday, October 21st. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Finally, Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $219.45.

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.