State of Alaska Department of Revenue Sells 1,131 Shares of Tesla, Inc. (NASDAQ:TSLA)

State of Alaska Department of Revenue decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,148 shares of the electric vehicle producer’s stock after selling 1,131 shares during the period. Tesla makes up about 0.6% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 22nd largest holding. State of Alaska Department of Revenue’s holdings in Tesla were worth $51,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. DNB Asset Management AS increased its position in shares of Tesla by 16.5% during the fourth quarter. DNB Asset Management AS now owns 617,655 shares of the electric vehicle producer’s stock worth $76,083,000 after acquiring an additional 87,491 shares in the last quarter. Financial Management Professionals Inc. grew its position in Tesla by 13.7% in the fourth quarter. Financial Management Professionals Inc. now owns 3,643 shares of the electric vehicle producer’s stock valued at $447,000 after purchasing an additional 440 shares in the last quarter. My Personal CFO LLC bought a new position in Tesla in the fourth quarter valued at $128,000. North Star Investment Management Corp. grew its position in Tesla by 48.0% in the fourth quarter. North Star Investment Management Corp. now owns 2,708 shares of the electric vehicle producer’s stock valued at $334,000 after purchasing an additional 878 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its position in Tesla by 6.2% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 4,416 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 43.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. Bank of America raised their target price on shares of Tesla from $130.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Piper Sandler decreased their target price on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, January 18th. KGI Securities downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and set a $196.00 target price for the company. in a research report on Thursday, March 2nd. Edward Jones raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Finally, Morgan Stanley decreased their price objective on shares of Tesla from $250.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, January 25th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $221.39.

Insiders Place Their Bets

In other Tesla news, CAO Vaibhav Taneja sold 2,466 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $482,818.14. Following the sale, the chief accounting officer now directly owns 100,458 shares of the company’s stock, valued at approximately $19,668,671.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Vaibhav Taneja sold 2,466 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total value of $482,818.14. Following the transaction, the chief accounting officer now owns 100,458 shares in the company, valued at approximately $19,668,671.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the completion of the transaction, the senior vice president now owns 64,259 shares in the company, valued at approximately $7,550,432.50. The disclosure for this sale can be found here. Insiders have sold 53,221 shares of company stock valued at $8,988,542 in the last ninety days. 25.10% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock traded down $4.00 during midday trading on Friday, hitting $180.13. 133,197,140 shares of the company traded hands, compared to its average volume of 152,494,352. The stock has a market cap of $569.95 billion, a price-to-earnings ratio of 49.71, a PEG ratio of 2.19 and a beta of 2.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.53. The firm’s fifty day moving average price is $175.38 and its 200-day moving average price is $197.07. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $384.29.

Tesla (NASDAQ:TSLA – Get Rating) last posted its earnings results on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Tesla had a net margin of 15.41% and a return on equity of 31.71%. The firm had revenue of $24.32 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Tesla, Inc. will post 3.43 earnings per share for the current year.

Tesla Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.