Kentucky Retirement Systems Insurance Trust Fund Has $21.49 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,149 shares of the electric vehicle producer’s stock after selling 7,343 shares during the period. Tesla accounts for 1.5% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 10th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Tesla were worth $21,493,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Connable Office Inc. increased its stake in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the last quarter. Integris Wealth Management LLC raised its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its position in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC lifted its holdings in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. Finally, Essex Savings Bank boosted its stake in shares of Tesla by 1.4% during the 3rd quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after purchasing an additional 44 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.1 %

TSLA stock opened at $320.72 on Friday. The stock has a market capitalization of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The firm has a 50-day simple moving average of $252.30 and a 200-day simple moving average of $220.46. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSLA. Truist Financial boosted their target price on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Argus reiterated a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $230.18.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock valued at $57,616,781 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.