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

State of Alaska Department of Revenue increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 investment portfolio, making the stock its 10th biggest holding. State of Alaska Department of Revenue’s holdings in Tesla were worth $96,502,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TSLA. Bank & Trust Co bought a new position in shares of Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 3.3 %

Shares of TSLA opened at $269.19 on Friday. The firm has a market cap of $858.50 billion, a P/E ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a 50 day simple moving average of $230.53 and a two-hundred day simple moving average of $207.67.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on 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 directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TSLA shares. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Truist Financial lifted their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $219.00.

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.