State of New Jersey Common Pension Fund D Has $309.53 Million Stock Position in Tesla, Inc. $TSLA

State of New Jersey Common Pension Fund D raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 974,412 shares of the electric vehicle producer’s stock after buying an additional 2,063 shares during the quarter. Tesla accounts for about 1.2% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 12th largest position. State of New Jersey Common Pension Fund D’s holdings in Tesla were worth $309,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Amundi grew its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 3.4%

Shares of TSLA opened at $433.72 on Friday. The stock has a fifty day moving average price of $398.06 and a two-hundred day moving average price of $339.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.07. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 16.13 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSLA. Royal Bank Of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Thursday. Bank of America raised their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. DZ Bank restated a “sell” rating on shares of Tesla in a research report on Thursday. Roth Capital set a $505.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday. Finally, CICC Research raised their target price on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $380.03.

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.