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

State of Alaska Department of Revenue increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,254 shares of the electric vehicle producer’s stock after buying an additional 1,925 shares during the period. Tesla accounts for about 0.7% of State of Alaska Department of Revenue’s portfolio, making the stock its 16th largest position. State of Alaska Department of Revenue’s holdings in Tesla were worth $61,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC raised its holdings in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Morgan Stanley raised its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TSLA shares. Evercore ISI cut their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. Wedbush boosted their target price on shares of Tesla from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. New Street Research reissued a “buy” rating and set a $235.00 target price on shares of Tesla in a research report on Tuesday, June 25th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $189.47.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock traded up $15.13 during trading hours on Wednesday, reaching $246.39. 166,561,422 shares of the company’s stock were exchanged, compared to its average volume of 97,073,484. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The business has a fifty day moving average of $180.89 and a two-hundred day moving average of $190.93. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, research analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

About Tesla

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.