Central Pacific Bank Trust Division Buys 1,106 Shares of Tesla, Inc. $TSLA

Central Pacific Bank Trust Division boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 42.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,684 shares of the electric vehicle producer’s stock after buying an additional 1,106 shares during the period. Central Pacific Bank Trust Division’s holdings in Tesla were worth $1,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TSLA. Chapman Financial Group LLC bought a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter worth about $29,000. CoreFirst Bank & Trust bought a new stake in Tesla in the second quarter worth about $30,000. Finally, ESL Trust Services LLC lifted its stake in Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 95 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Roth Capital set a $505.00 price target on Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. The Goldman Sachs Group dropped their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. HSBC reiterated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. CICC Research boosted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, Melius initiated coverage on shares of Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $400.86.

Tesla Stock Performance

Shares of Tesla stock opened at $489.88 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $437.09 and its 200-day moving average price is $378.24. The firm has a market cap of $1.63 trillion, a P/E ratio of 326.59, a P/E/G ratio of 11.88 and a beta of 1.87. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $491.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. 19.90% of the stock is currently owned by corporate insiders.

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.