Tesla, Inc. $TSLA Stock Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 178,617 shares of the electric vehicle producer’s stock after purchasing an additional 21,498 shares during the quarter. Tesla accounts for 1.0% of Maryland State Retirement & Pension System’s portfolio, making the stock its 16th biggest position. Maryland State Retirement & Pension System’s holdings in Tesla were worth $63,375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in TSLA. State Street Corp raised its holdings in Tesla by 2.4% during the 2nd quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer’s stock valued at $49,402,312,000 after buying an additional 2,761,298 shares during the last quarter. Legal & General Group Plc purchased a new stake in Tesla during the 2nd quarter valued at $8,535,612,000. Amundi grew its holdings in Tesla by 14.0% in the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after acquiring an additional 2,727,141 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Tesla in the 2nd quarter worth $6,083,630,000. Finally, Bamco Inc. NY increased its position in shares of Tesla by 5.0% in the second quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock valued at $5,267,911,000 after acquiring an additional 591,243 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Yorkville Ives assumed coverage on shares of Tesla in a research note on Wednesday, October 7th. They set an “outperform” rating and a $500.00 price objective for the company. Tigress Financial assumed coverage on Tesla in a research note on Thursday, October 22nd. They issued a “buy” rating on the stock. Monness Crespi & Hardt assumed coverage on Tesla in a report on Monday, October 26th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price target on Tesla from $415.00 to $430.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Finally, DZ Bank raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Moderate Buy” and a consensus target price of $414.51.

Tesla Stock Up 2.9%

Shares of NASDAQ TSLA opened at $390.82 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83. The firm has a market capitalization of $1.54 trillion, a PE ratio of 429.48, a price-to-earnings-growth ratio of 23.53 and a beta of 1.74. The firm has a fifty day simple moving average of $373.66 and a two-hundred day simple moving average of $383.44.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The firm had revenue of $28.05 billion for the quarter, compared to analyst estimates of $28.06 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 0.67 earnings per share for the current year.

Recent Tesla Headlines

Investors following TSLA have been watching these headlines:

• Positive Sentiment: Finland approved Tesla’s supervised driver-assistance system for use on its roads. The decision could help Tesla build momentum in Europe, though broader EU approval is still pending and the system may face limitations. Reuters: Finland approves Tesla’s Assisted Driving system
• Neutral Sentiment: A report said Tesla’s Texas robotaxi fleet reached 1,302 registered vehicles, surpassing Waymo in that state. Fleet growth may strengthen Tesla’s autonomous-driving ambitions, but the business’s commercial potential still depends on regulatory approval and successful service expansion. TipRanks: Tesla Robotaxi Overtakes Waymo in Texas
• Negative Sentiment: Jefferies downgraded Tesla from “strong buy” to “hold,” adding a cautious analyst signal amid concerns about the company’s outlook and valuation.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer directly owned 25,972 shares of the company’s stock, valued at approximately $9,353,296.36. The trade was a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.