Maryland State Retirement & Pension System Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Maryland State Retirement & Pension System boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the first quarter, Holdings Channel reports. The firm owned 215,902 shares of the electric vehicle producer’s stock after acquiring an additional 1,386 shares during the quarter. Tesla makes up about 0.7% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 19th biggest position. Maryland State Retirement & Pension System’s holdings in Tesla were worth $37,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Apexium Financial LP increased its stake in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after buying an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD increased its position in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP raised its holdings in Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Tesla by 16.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC boosted its stake in shares of Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, April 24th. Royal Bank of Canada reduced their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Jefferies Financial Group lowered their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Canaccord Genuity Group upped their target price on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $189.47.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Tesla Stock Performance

TSLA stock traded up $15.13 during midday trading on Thursday, reaching $246.39. 166,561,471 shares of the company’s stock traded hands, compared to its average volume of 80,957,576. The stock’s 50-day moving average is $182.57 and its 200 day moving average is $191.32. The stock has a market cap of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current year.

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.