State of Alaska Department of Revenue Sells 12,144 Shares of Tesla, Inc. $TSLA

Key Points

• The State of Alaska Department of Revenue reduced its Tesla, Inc. holdings by 3.2%, selling 12,144 shares, leaving it with 362,150 shares valued at approximately $115 million.
• Recent earnings reported a disappointing $0.40 EPS, missing the consensus estimate of $0.43 EPS, while revenue fell 11.8% year over year to $22.50 billion.
• Despite institutional ownership of 66.20%, Tesla's stock ratings are mixed, with two Strong Buy, nineteen Buy, twelve Hold, and nine Sell recommendations from analysts.

State of Alaska Department of Revenue cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,150 shares of the electric vehicle producer's stock after selling 12,144 shares during the quarter. Tesla accounts for 1.2% 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 $115,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Amundi increased its stake in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA opened at $440.40 on Friday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The stock's 50-day simple moving average is $352.05 and its 200 day simple moving average is $314.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. UBS Group restated a "sell" rating on shares of Tesla in a report on Monday, September 22nd. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a report on Friday. China Renaissance restated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $332.33.

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.

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