Central Pacific Bank Trust Division Purchases 4,000 Shares of Tesla, Inc. (NASDAQ:TSLA)

Central Pacific Bank Trust Division raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1,179.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,339 shares of the electric vehicle producer’s stock after purchasing an additional 4,000 shares during the period. Central Pacific Bank Trust Division’s holdings in Tesla were worth $1,135,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TSLA. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC lifted its position in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSLA. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday. Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, KGI Securities reaffirmed a “neutral” rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $210.54.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $240.66 on Friday. The business has a 50-day moving average of $223.40 and a 200 day moving average of $200.86. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The stock has a market capitalization of $767.51 billion, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current 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.