Treasurer of the State of North Carolina Purchases 12,222 Shares of Tesla, Inc. (NASDAQ:TSLA)

Treasurer of the State of North Carolina increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,292,628 shares of the electric vehicle producer’s stock after buying an additional 12,222 shares during the period. Tesla accounts for approximately 2.0% of Treasurer of the State of North Carolina’s investment portfolio, making the stock its 6th biggest position. Treasurer of the State of North Carolina’s holdings in Tesla were worth $522,015,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC increased its holdings in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC grew its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tesla by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after buying an additional 780,026 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 22.7 %

Shares of Tesla stock opened at $272.20 on Thursday. The firm has a market capitalization of $875.54 billion, a price-to-earnings ratio of 133.43, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a 50 day moving average of $290.62 and a 200 day moving average of $323.14.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Finally, Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $301.40.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock worth $123,791,123 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla 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.