State of Tennessee Department of Treasury Has $395.21 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

State of Tennessee Department of Treasury lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 978,628 shares of the electric vehicle producer's stock after selling 58,942 shares during the period. Tesla comprises about 1.4% of State of Tennessee Department of Treasury's investment portfolio, making the stock its 10th biggest holding. State of Tennessee Department of Treasury's holdings in Tesla were worth $395,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC increased its holdings in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock valued at $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla during the fourth quarter valued at about $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TSLA shares. Cantor Fitzgerald lowered their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and lifted their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Tuesday. Ten equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $283.24.

Tesla Stock Performance

NASDAQ TSLA traded up $13.10 during midday trading on Wednesday, hitting $251.07. The company had a trading volume of 149,563,812 shares, compared to its average volume of 96,201,924. The firm has a fifty day simple moving average of $269.39 and a two-hundred day simple moving average of $322.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $807.56 billion, a price-to-earnings ratio of 123.07, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a fifty-two week low of $157.51 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.