Tesla, Inc. $TSLA is State Board of Administration of Florida Retirement System’s 8th Largest Position

State Board of Administration of Florida Retirement System lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733,662 shares of the electric vehicle producer’s stock after buying an additional 40,206 shares during the quarter. Tesla accounts for 1.5% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 8th biggest holding. State Board of Administration of Florida Retirement System owned 0.08% of Tesla worth $868,375,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in shares of Tesla during the 2nd quarter worth $29,000. Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Evergreen Private Wealth LLC grew its position in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the period. Glynn Capital Management LLC purchased a new position in Tesla in the second quarter valued at about $35,000. Finally, LSV Asset Management lifted its position in shares of Tesla by 400.0% during the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Benchmark restated a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. BNP Paribas Exane started coverage on shares of Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective on the stock. Finally, Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $394.03.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,606 shares of company stock valued at $33,554,102 in the last quarter. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $426.58 on Thursday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 284.39, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company’s 50-day moving average is $433.68 and its two-hundred day moving average is $367.76. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.