Public Employees Retirement Association of Colorado Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Public Employees Retirement Association of Colorado cut its position in Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 397,742 shares of the electric vehicle producer’s stock after selling 10,094 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Tesla were worth $78,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Benjamin F. Edwards & Company Inc. lifted its holdings in Tesla by 131.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 31,916 shares of the electric vehicle producer’s stock worth $6,315,000 after purchasing an additional 18,103 shares in the last quarter. Retirement Investment Advisors Inc. bought a new position in Tesla during the second quarter valued at $566,000. GM Advisory Group LLC grew its position in Tesla by 3.5% in the second quarter. GM Advisory Group LLC now owns 8,869 shares of the electric vehicle producer’s stock worth $1,755,000 after acquiring an additional 302 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of Tesla by 17.5% in the 2nd quarter. Ieq Capital LLC now owns 183,349 shares of the electric vehicle producer’s stock worth $36,281,000 after purchasing an additional 27,296 shares during the period. Finally, Brighton Jones LLC boosted its stake in Tesla by 11.5% during the second quarter. Brighton Jones LLC now owns 80,872 shares of the electric vehicle producer’s stock worth $16,003,000 after buying an additional 8,343 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 7.4 %

TSLA stock opened at $243.92 on Friday. The stock has a market capitalization of $777.91 billion, a P/E ratio of 62.22, a P/E/G ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93. The firm has a 50-day simple moving average of $221.50 and a 200-day simple moving average of $195.49. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Royal Bank of Canada cut their price target on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, September 5th. Mizuho boosted their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, HSBC lifted their price target on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $209.60.

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.