Image from MarketBeat Media, LLC. Key Points New Mexico Educational Retirement Board trimmed its Tesla stake by 3.0% in Q3 to 126,600 shares, worth about $56.3 million and representing 1.7% of the fund's holdings (its 8th largest holding). Insiders sold aggressively over the last quarter (87,995 shares valued at ~$38.3 million, including sales by CFO Vaibhav Taneja and director James R. Murdoch); institutional ownership is 66.2% and Norges Bank opened a new ~$11.84 billion position in Q2. Tesla recently beat EPS estimates ($0.50 vs. $0.45) on $24.9 billion revenue (-3.1% YoY), and analysts show a consensus "Hold" with an average price target of $406.84 while the stock trades near $380 (market cap ~$1.43 trillion). Rivian’s Making a Big Pivot, and the Results Could Be Huge A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Narwhal Capital Management boosted its position in Tesla by 32.8% during the 3rd quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer's stock valued at $4,232,000 after acquiring an additional 2,350 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Tesla by 29.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer's stock worth $14,487,000 after acquiring an additional 7,446 shares in the last quarter. Norges Bank bought a new position in shares of Tesla in the 2nd quarter worth $11,839,824,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tesla by 8.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer's stock worth $21,571,000 after purchasing an additional 3,935 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its position in Tesla by 26.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer's stock valued at $8,019,000 after purchasing an additional 3,724 shares in the last quarter. Institutional investors own 66.20% of the company's stock. Get Tesla alerts: