State Board of Administration of Florida Retirement System boosted its holdings in Tesla Inc (NASDAQ:TSLA) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 181,627 shares of the electric vehicle producer’s stock after purchasing an additional 930 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Tesla were worth $62,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in TSLA. Northwest Wealth Management LLC purchased a new stake in Tesla in the 2nd quarter valued at $103,000. Macroview Investment Management LLC purchased a new stake in Tesla in the 1st quarter valued at $106,000. Jacobi Capital Management LLC raised its position in Tesla by 154.4% in the 1st quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock valued at $109,000 after purchasing an additional 261 shares during the last quarter. Institutional & Family Asset Management LLC purchased a new stake in Tesla in the 1st quarter valued at $114,000. Finally, Stelac Advisory Services LLC purchased a new stake in Tesla in the 2nd quarter valued at $114,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

In related news, Director Kimbal Musk sold 1,875 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $358.26, for a total value of $671,737.50. Following the sale, the director now directly owns 150,208 shares of the company’s stock, valued at approximately $53,813,518.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John Douglas Field sold 3,000 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $359.27, for a total transaction of $1,077,810.00. Following the completion of the sale, the vice president now directly owns 20,964 shares in the company, valued at $7,531,736.28. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on TSLA shares. Evercore ISI set a $301.00 price objective on shares of Tesla and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Royal Bank of Canada restated a “neutral” rating and set a $315.00 price objective on shares of Tesla in a research report on Wednesday, August 8th. Cowen set a $200.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research report on Thursday, August 2nd. JPMorgan Chase & Co. restated a “sell” rating and set a $308.00 price objective on shares of Tesla in a research report on Wednesday, August 8th. Finally, KeyCorp restated a “hold” rating on shares of Tesla in a research report on Thursday, August 2nd. Twelve equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. Tesla presently has a consensus rating of “Hold” and a consensus target price of $314.31.

Shares of Tesla opened at $355.49 on Monday, according to MarketBeat.com. The company has a quick ratio of 0.44, a current ratio of 0.73 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $60.64 billion, a PE ratio of -30.97 and a beta of 0.65. Tesla Inc has a 52-week low of $244.59 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.61) by $0.55. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The business’s revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.33) EPS. equities research analysts forecast that Tesla Inc will post -10.77 EPS for the current fiscal year.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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