Tesla, Inc. (NASDAQ:TSLA) Position Decreased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,166 shares of the electric vehicle producer’s stock after selling 9,736 shares during the quarter. Tesla comprises approximately 1.3% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 9th biggest holding. Maryland State Retirement & Pension System’s holdings in Tesla were worth $60,643,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the fourth quarter valued at $46,000. Parkworth Wealth Management Inc. acquired a new position in Tesla during the fourth quarter valued at $47,000. PayPay Securities Corp lifted its position in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the period. Rialto Wealth Management LLC acquired a new position in Tesla during the fourth quarter valued at $55,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla in the fourth quarter worth about $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock opened at $225.31 on Wednesday. The firm has a market cap of $724.71 billion, a PE ratio of 110.45, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $344.47 and its two-hundred day moving average is $320.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Finally, Mizuho dropped their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average price target of $319.25.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

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.