Maryland State Retirement & Pension System Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Maryland State Retirement & Pension System boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,295 shares of the electric vehicle producer’s stock after acquiring an additional 7,176 shares during the quarter. Tesla accounts for approximately 1.2% of Maryland State Retirement & Pension System’s holdings, making the stock its 9th largest position. Maryland State Retirement & Pension System’s holdings in Tesla were worth $55,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Tesla by 0.7% during the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after buying an additional 685,454 shares during the period. Geode Capital Management LLC raised its holdings in Tesla by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 50,047,967 shares of the electric vehicle producer’s stock worth $10,358,912,000 after purchasing an additional 938,216 shares during the period. FMR LLC raised its holdings in Tesla by 3.9% in the 1st quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock worth $6,913,893,000 after purchasing an additional 1,244,230 shares during the period. Norges Bank bought a new position in Tesla in the 4th quarter worth $3,459,540,000. Finally, Moneta Group Investment Advisors LLC raised its holdings in Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. 41.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a report on Monday, July 3rd. StockNews.com began coverage on Tesla in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Barclays lowered Tesla from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $260.00 in a research note on Wednesday, June 21st. Guggenheim reiterated a “sell” rating and issued a $125.00 price target on shares of Tesla in a research note on Wednesday, August 30th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $150.00 price target on shares of Tesla in a research note on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $239.43.

Tesla Stock Down 0.6 %

Shares of NASDAQ TSLA opened at $274.39 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. The company has a market cap of $870.91 billion, a P/E ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $313.80. The firm has a 50-day simple moving average of $255.83 and a two-hundred day simple moving average of $220.81.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $24.93 billion during the quarter, compared to the consensus estimate of $24.22 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current year.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the sale, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the transaction, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at $55,054,398. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at $14,862,374.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,815 shares of company stock valued at $14,384,135. Corporate 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. It 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, retail merchandise, and vehicle insurance services.