Tesla, Inc. (NASDAQ:TSLA) Position Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its position in Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & 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 period. Tesla comprises 1.2% of Maryland State Retirement & Pension System’s portfolio, making the stock its 9th largest holding. 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 made changes to their positions in TSLA. Empower Advisory Group LLC acquired a new position in Tesla during the first quarter worth about $98,698,000. DoubleLine ETF Adviser LP purchased a new stake in shares of Tesla during the first quarter worth about $11,384,000. Private Trust Co. NA lifted its stake in shares of Tesla by 87.8% during the first quarter. Private Trust Co. NA now owns 5,138 shares of the electric vehicle producer’s stock valued at $1,066,000 after buying an additional 2,402 shares during the period. Berkeley Capital Partners LLC lifted its stake in shares of Tesla by 1.6% during the first quarter. Berkeley Capital Partners LLC now owns 5,212 shares of the electric vehicle producer’s stock valued at $1,081,000 after buying an additional 81 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Tesla by 8.7% during the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,593 shares of the electric vehicle producer’s stock valued at $953,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 3rd. Wedbush upped their price objective on shares of Tesla from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. TD Cowen upped their price objective on shares of Tesla from $150.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, July 20th. Morgan Stanley raised shares of Tesla from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $250.00 to $400.00 in a research note on Sunday, September 10th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating in a research report on Monday, June 12th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $239.43.

Tesla Trading Down 0.6 %

NASDAQ TSLA opened at $274.39 on Monday. The company’s fifty day moving average price is $255.83 and its two-hundred day moving average price is $220.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $313.80. The company has a market capitalization of $870.91 billion, a price-to-earnings ratio of 77.73, a price-to-earnings-growth ratio of 4.30 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. During the same period last year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at approximately $14,862,374.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction dated 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 owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction dated 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 approximately $14,862,374.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,815 shares of company stock worth $14,384,135. 25.10% of the stock is currently owned by insiders.

About Tesla

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.