State of Alaska Department of Revenue Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

State of Alaska Department of Revenue grew its position in Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 368,854 shares of the electric vehicle producer’s stock after acquiring an additional 20,325 shares during the quarter. Tesla comprises about 1.0% of State of Alaska Department of Revenue’s portfolio, making the stock its 10th largest position. State of Alaska Department of Revenue’s holdings in Tesla were worth $96,502,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC boosted its stake in shares of Tesla by 9.2% during the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after purchasing an additional 99 shares during the period. Cornerstone Wealth Group LLC boosted its position in Tesla by 22.3% in the 1st quarter. Cornerstone Wealth Group LLC now owns 7,238 shares of the electric vehicle producer’s stock valued at $1,272,000 after buying an additional 1,318 shares during the period. Trilogy Capital Inc. grew its stake in Tesla by 133.0% in the 1st quarter. Trilogy Capital Inc. now owns 4,294 shares of the electric vehicle producer’s stock worth $755,000 after acquiring an additional 2,451 shares in the last quarter. Mirador Capital Partners LP increased its position in shares of Tesla by 36.5% during the first quarter. Mirador Capital Partners LP now owns 7,208 shares of the electric vehicle producer’s stock worth $1,267,000 after acquiring an additional 1,929 shares during the period. Finally, Aviance Capital Partners LLC raised its stake in shares of Tesla by 5,433.5% during the first quarter. Aviance Capital Partners LLC now owns 50,853 shares of the electric vehicle producer’s stock valued at $8,939,000 after acquiring an additional 49,934 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $269.19 on Friday. The stock has a 50-day moving average of $230.53 and a two-hundred day moving average of $207.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $858.50 billion, a P/E ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.10% 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.