Illinois Municipal Retirement Fund Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Illinois Municipal Retirement Fund decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,108 shares of the electric vehicle producer’s stock after selling 17,046 shares during the period. Illinois Municipal Retirement Fund’s holdings in Tesla were worth $18,424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in Tesla in the fourth quarter worth about $7,844,757,000. Vanguard Group Inc. boosted its position in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock valued at $501,654,000 after buying an additional 1,072,366 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 8.4 %

Shares of NASDAQ TSLA traded down $19.44 during trading on Friday, reaching $210.73. The stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The business’s 50-day moving average price is $224.47 and its 200-day moving average price is $193.60. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market cap of $673.21 billion, a P/E ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Stifel Nicolaus started coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday. Canaccord Genuity Group upped their price target on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Argus reiterated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Finally, China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Friday, July 5th. Nine equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $204.21.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 25.10% of the stock is currently owned by corporate insiders.

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.