State of Alaska Department of Revenue Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

State of Alaska Department of Revenue decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,899 shares of the electric vehicle producer’s stock after selling 3,955 shares during the period. Tesla accounts for 1.6% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 6th biggest holding. State of Alaska Department of Revenue’s holdings in Tesla were worth $147,360,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TSLA. Matrix Asset Advisors Inc. NY bought a new position in shares of Tesla during the 3rd quarter valued at approximately $218,000. Westend Capital Management LLC grew its holdings in Tesla by 39,624.7% during the third quarter. Westend Capital Management LLC now owns 32,177 shares of the electric vehicle producer’s stock valued at $8,418,000 after purchasing an additional 32,096 shares during the period. Retirement Planning Group LLC increased its position in Tesla by 16.1% in the third quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock worth $364,000 after buying an additional 193 shares during the last quarter. Carnegie Investment Counsel lifted its position in shares of Tesla by 29.6% during the 3rd quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock valued at $1,735,000 after buying an additional 1,515 shares during the last quarter. Finally, MorganRosel Wealth Management LLC grew its stake in shares of Tesla by 8.0% during the 3rd quarter. MorganRosel Wealth Management LLC now owns 2,700 shares of the electric vehicle producer’s stock worth $706,000 after acquiring an additional 200 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $361.62 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market cap of $1.16 trillion, a P/E ratio of 177.27, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $408.27 and a 200-day moving average of $303.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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%. Sell-side analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 560,776 shares of company stock worth $203,744,862 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TSLA. Wedbush upped their price objective on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a report on Thursday, January 30th. Canaccord Genuity Group boosted their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $322.29.

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.