Louisiana State Employees Retirement System Has $81.35 Million Holdings in Tesla, Inc. $TSLA

Louisiana State Employees Retirement System decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 256,100 shares of the electric vehicle producer’s stock after selling 2,300 shares during the period. Tesla makes up 1.5% of Louisiana State Employees Retirement System’s holdings, making the stock its 8th largest position. Louisiana State Employees Retirement System’s holdings in Tesla were worth $81,353,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. KWB Wealth boosted its stake in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its stake in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. boosted its stake in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares during the last quarter. Kelly Financial Services LLC boosted its stake in shares of Tesla by 2.7% during the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after buying an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC boosted its stake in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after buying an additional 36 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research note on Wednesday. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Canaccord Genuity Group raised their target price on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $345.70.

Tesla Stock Up 1.3%

Tesla stock opened at $438.69 on Thursday. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.58, a P/E/G ratio of 15.92 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company’s 50-day moving average price is $371.20 and its two-hundred day moving average price is $325.56.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.