Tesla, Inc. (NASDAQ:TSLA) is State of New Jersey Common Pension Fund D’s 9th Largest Position

State of New Jersey Common Pension Fund D boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,621,810 shares of the electric vehicle producer’s stock after buying an additional 3,029 shares during the period. Tesla makes up about 1.4% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 9th largest position. State of New Jersey Common Pension Fund D’s holdings in Tesla were worth $402,987,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 5.3% in the fourth 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. Oak Ridge Investments LLC increased its holdings in Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after buying an additional 1,405 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Tesla by 16.6% in the fourth 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, Nordea Investment Management AB boosted its holdings in shares of Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after buying an additional 81,729 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock traded down $1.89 during trading on Friday, reaching $168.29. The company’s stock had a trading volume of 109,309,500 shares, compared to its average volume of 103,386,453. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The stock has a 50-day moving average price of $175.67 and a two-hundred day moving average price of $208.64. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $535.97 billion, a P/E ratio of 43.44, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TSLA shares. Barclays dropped their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Guggenheim reiterated a “sell” rating and issued a $122.00 target price on shares of Tesla in a research note on Tuesday. Mizuho dropped their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen reduced their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Finally, Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $186.70.

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.