Maryland State Retirement & Pension System Sells 19,989 Shares of Tesla, Inc. (NASDAQ:TSLA)

Maryland State Retirement & Pension System trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,177 shares of the electric vehicle producer's stock after selling 19,989 shares during the quarter. Tesla comprises 0.8% of Maryland State Retirement & Pension System's portfolio, making the stock its 25th biggest holding. Maryland State Retirement & Pension System's holdings in Tesla were worth $33,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC grew its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TSLA shares. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday. Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Benchmark restated a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Cantor Fitzgerald lowered their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $303.31.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 606,724 shares of company stock worth $215,376,831. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 3.6%

NASDAQ:TSLA opened at $319.91 on Thursday. Tesla, Inc. has a 12 month low of $191.48 and a 12 month high of $488.54. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.92, a PEG ratio of 10.85 and a beta of 2.33. The firm has a fifty day simple moving average of $319.80 and a two-hundred day simple moving average of $309.56. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the business posted $0.52 EPS. The company's quarterly revenue was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.

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