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

Illinois Municipal Retirement Fund cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.5% in the second quarter, Holdings Channel.com reports. The fund owned 93,108 shares of the electric vehicle producer’s stock after selling 17,046 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Tesla were worth $18,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TSLA. DDFG Inc increased its stake in Tesla by 7.1% in the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after purchasing an additional 71 shares during the period. Vantage Financial Partners LLC raised its stake in shares of Tesla by 6.4% during the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after purchasing an additional 346 shares during the last quarter. Gilbert & Cook Inc. increased its stake in Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after buying an additional 1,086 shares during the period. 9258 Wealth Management LLC lifted its stake in shares of Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after acquiring an additional 69 shares during the period. Finally, Rollins Financial boosted its holdings in shares of Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock valued at $29,921,000 after acquiring an additional 11,191 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Piper Sandler reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Tesla in a report on Monday, August 19th. Wolfe Research assumed coverage on Tesla in a report on Thursday. They issued a “peer perform” rating for the company. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Finally, Royal Bank of Canada decreased their price objective 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. Nine investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $204.21.

Tesla Stock Down 8.4 %

TSLA stock traded down $19.44 during midday trading on Friday, hitting $210.73. 111,432,758 shares of the company’s stock were exchanged, compared to its average volume of 68,186,248. The firm has a 50 day moving average price of $224.47 and a 200-day moving average price of $193.60. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The stock has a market capitalization of $673.21 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during 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%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 25.10% of the company’s stock.

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.