California State Teachers Retirement System Purchases 2,920,232 Shares of Tesla, Inc. (NASDAQ:TSLA)

California State Teachers Retirement System grew its position in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 197.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,399,479 shares of the electric vehicle producer’s stock after purchasing an additional 2,920,232 shares during the period. Tesla comprises approximately 2.0% of California State Teachers Retirement System’s holdings, making the stock its 4th biggest holding. California State Teachers Retirement System’s holdings in Tesla were worth $1,166,962,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cranbrook Wealth Management LLC lifted its position in Tesla by 224.1% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 65 shares in the last quarter. Coston McIsaac & Partners lifted its position in Tesla by 200.0% during the 3rd quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 64 shares in the last quarter. West Oak Capital LLC acquired a new position in Tesla during the 3rd quarter worth about $27,000. Alpha Paradigm Partners LLC acquired a new position in Tesla during the 3rd quarter worth about $27,000. Finally, Norway Savings Bank lifted its position in Tesla by 200.0% during the 3rd quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 43.00% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the completion of the sale, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $7,550,432.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the completion of the sale, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $7,550,432.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Kirkhorn sold 3,752 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the sale, the chief financial officer now directly owns 200,411 shares of the company’s stock, valued at approximately $21,906,926.41. The disclosure for this sale can be found here. Insiders sold 53,221 shares of company stock valued at $8,988,542 in the last quarter. 25.10% of the stock is currently owned by insiders.

Tesla Trading Down 1.5 %

NASDAQ TSLA opened at $180.45 on Thursday. The company has a market cap of $570.96 billion, a PE ratio of 49.80, a PEG ratio of 2.10 and a beta of 2.06. The company has a current ratio of 1.53, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $384.29. The stock has a 50 day moving average of $172.56 and a 200-day moving average of $198.46.

Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 EPS for the quarter, beating the consensus estimate of $0.98 by $0.21. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The company had revenue of $24.32 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 3.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $250.00 to $220.00 in a research report on Thursday, January 19th. Jefferies Financial Group upped their target price on shares of Tesla from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Wells Fargo & Company upped their target price on shares of Tesla from $150.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, February 24th. StockNews.com initiated coverage on shares of Tesla in a research report on Thursday. They set a “hold” rating on the stock. Finally, Edward Jones upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $221.39.

Tesla Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.