Utah Retirement Systems raised its stake in Tesla Inc. (NASDAQ:TSLA) by 4.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 23,805 shares of the electric vehicle producer’s stock after buying an additional 1,000 shares during the period. Utah Retirement Systems’ holdings in Tesla were worth $8,608,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. North Star Investment Management Corp. boosted its stake in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after buying an additional 9 shares during the last quarter. Clarius Group LLC boosted its stake in Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock valued at $1,287,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock valued at $282,000 after buying an additional 20 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in Tesla by 1.7% in the second quarter. WASHINGTON TRUST Co now owns 1,178 shares of the electric vehicle producer’s stock valued at $426,000 after buying an additional 20 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors.

Shares of Tesla Inc. (NASDAQ:TSLA) opened at 348.05 on Friday. The stock’s 50 day moving average is $340.43 and its 200-day moving average is $314.17. The company’s market cap is $58.09 billion. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) EPS. On average, equities analysts forecast that Tesla Inc. will post ($6.17) EPS for the current year.

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Several analysts recently issued reports on the company. UBS AG reissued a “sell” rating and issued a $160.00 target price on shares of Tesla in a research note on Wednesday, May 3rd. Argus reissued a “hold” rating on shares of Tesla in a research note on Thursday, May 11th. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $278.94 target price on the stock in a research note on Wednesday, May 17th. ValuEngine raised Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub cut Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $310.84.

In other Tesla news, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the transaction, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,657 shares of company stock valued at $17,668,497. 23.10% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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