Tesla, Inc. (NASDAQ:TSLA) is Maryland State Retirement & Pension System’s 10th Largest Position

Maryland State Retirement & Pension System grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,516 shares of the electric vehicle producer’s stock after purchasing an additional 2,286 shares during the period. Tesla makes up about 1.1% of Maryland State Retirement & Pension System’s holdings, making the stock its 10th largest holding. Maryland State Retirement & Pension System’s holdings in Tesla were worth $53,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mount Vernon Associates Inc. MD increased its position in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after acquiring an additional 350 shares during the period. Oak Ridge Investments LLC raised its position in Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after purchasing an additional 1,405 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of 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 buying an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Tesla by 16.6% during 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 buying an additional 6,615 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after acquiring an additional 81,729 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Sanford C. Bernstein dropped their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. UBS Group cut their target price on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. TD Cowen lowered their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. China Renaissance assumed coverage on shares of Tesla in a report on Monday, February 26th. They issued a “hold” rating for the company. Finally, Morgan Stanley cut their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $185.90.

Tesla Price Performance

Shares of Tesla stock traded down $6.48 during trading on Tuesday, hitting $178.28. 66,284,207 shares of the company were exchanged, compared to its average volume of 104,003,664. The firm has a 50 day moving average price of $173.56 and a 200 day moving average price of $204.56. The stock has a market capitalization of $568.57 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 4.74 and a beta of 2.41. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last quarter. 20.90% of the stock is currently owned by insiders.

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.