State of New Jersey Common Pension Fund D Sells 1,612 Shares of Tesla, Inc. (NASDAQ:TSLA)

State of New Jersey Common Pension Fund D cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,055,133 shares of the electric vehicle producer’s stock after selling 1,612 shares during the quarter. Tesla makes up 1.7% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 8th biggest holding. State of New Jersey Common Pension Fund D’s holdings in Tesla were worth $426,105,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Total Investment Management Inc. boosted its stake in shares of Tesla by 16.6% during the fourth quarter. Total Investment Management Inc. now owns 3,012 shares of the electric vehicle producer’s stock valued at $1,216,000 after purchasing an additional 429 shares in the last quarter. Capital Performance Advisors LLP boosted its stake in shares of Tesla by 76.8% during the fourth quarter. Capital Performance Advisors LLP now owns 2,130 shares of the electric vehicle producer’s stock valued at $860,000 after purchasing an additional 925 shares in the last quarter. Strategic Advisors LLC boosted its stake in shares of Tesla by 3.7% during the fourth quarter. Strategic Advisors LLC now owns 20,437 shares of the electric vehicle producer’s stock valued at $8,253,000 after purchasing an additional 735 shares in the last quarter. Hoge Financial Services LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $264,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $439,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on TSLA shares. Robert W. Baird cut their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Morgan Stanley raised their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Guggenheim restated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $326.50.

Tesla Stock Down 1.7 %

TSLA stock opened at $354.40 on Friday. The stock’s fifty day simple moving average is $402.14 and its two-hundred day simple moving average is $311.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $1.14 trillion, a P/E ratio of 173.73, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock worth $195,995,200 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

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.