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

State of New Jersey Common Pension Fund D raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 974,412 shares of the electric vehicle producer’s stock after acquiring an additional 2,063 shares during the period. Tesla comprises about 1.2% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 12th largest holding. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hobart Private Capital LLC grew its stake in Tesla by 43.0% in the second quarter. Hobart Private Capital LLC now owns 1,865 shares of the electric vehicle producer’s stock valued at $592,000 after acquiring an additional 561 shares during the period. Peterson Wealth Services grew its stake in Tesla by 23.0% in the second quarter. Peterson Wealth Services now owns 45,024 shares of the electric vehicle producer’s stock valued at $14,302,000 after acquiring an additional 8,410 shares during the period. Sage Mountain Advisors LLC grew its stake in Tesla by 49.2% in the second quarter. Sage Mountain Advisors LLC now owns 36,683 shares of the electric vehicle producer’s stock valued at $11,653,000 after acquiring an additional 12,098 shares during the period. DDD Partners LLC grew its stake in Tesla by 5.7% in the second quarter. DDD Partners LLC now owns 5,425 shares of the electric vehicle producer’s stock valued at $1,723,000 after acquiring an additional 291 shares during the period. Finally, Moment Partners LLC acquired a new position in Tesla in the second quarter valued at about $202,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 3.4%

Shares of NASDAQ:TSLA opened at $433.72 on Friday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 289.15, a P/E/G ratio of 16.13 and a beta of 2.08. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. The business’s 50 day simple moving average is $398.06 and its 200 day simple moving average is $339.92.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Dbs Bank upped their price objective on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Canaccord Genuity Group cut their target price on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday. Cantor Fitzgerald set a $510.00 target price on Tesla in a research note on Thursday. Barclays restated a “negative” rating and issued a $350.00 target price (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. Finally, Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $380.03.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred 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 directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

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.