Kentucky Retirement Systems Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Kentucky Retirement Systems decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,667 shares of the electric vehicle producer’s stock after selling 2,627 shares during the period. Tesla makes up 2.3% of Kentucky Retirement Systems’ holdings, making the stock its 6th biggest position. Kentucky Retirement Systems’ holdings in Tesla were worth $76,999,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TSLA. Waterfront Wealth Inc. boosted its stake in Tesla by 1.1% in the fourth quarter. Waterfront Wealth Inc. now owns 4,578 shares of the electric vehicle producer’s stock valued at $1,849,000 after buying an additional 49 shares in the last quarter. Suncoast Equity Management lifted its stake in shares of Tesla by 31.5% in the fourth quarter. Suncoast Equity Management now owns 1,064 shares of the electric vehicle producer’s stock worth $430,000 after acquiring an additional 255 shares during the period. Financial Harvest LLC acquired a new position in Tesla in the fourth quarter valued at approximately $498,000. FDx Advisors Inc. lifted its stake in Tesla by 48.1% in the fourth quarter. FDx Advisors Inc. now owns 1,673 shares of the electric vehicle producer’s stock valued at $676,000 after buying an additional 543 shares during the period. Finally, Nicholson Wealth Management Group LLC lifted its stake in Tesla by 14.1% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 1,618 shares of the electric vehicle producer’s stock valued at $653,000 after buying an additional 200 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLA. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Truist Financial upped their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $319.57.

Tesla Stock Performance

Shares of TSLA opened at $337.80 on Monday. The stock’s 50-day simple moving average is $400.17 and its 200 day simple moving average is $314.04. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

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

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.