State of Michigan Retirement System Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

State of Michigan Retirement System grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 757,957 shares of the electric vehicle producer’s stock after acquiring an additional 2,300 shares during the quarter. Tesla accounts for approximately 1.6% of State of Michigan Retirement System’s investment portfolio, making the stock its 9th biggest position. State of Michigan Retirement System’s holdings in Tesla were worth $306,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hengehold Capital Management LLC boosted its stake in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its holdings in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares in the last quarter. Finally, Vista Finance LLC grew its holdings in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 4.4 %

TSLA opened at $272.11 on Wednesday. The company has a market cap of $875.24 billion, a P/E ratio of 133.39, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a fifty day moving average price of $378.63 and a two-hundred day moving average price of $318.40. 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.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,996 shares of company stock valued at $118,467,387 over the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Robert W. Baird cut their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley restated a “top pick” rating and set a $430.00 price target on shares of Tesla in a report on Monday. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $315.33.

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.