Central Pacific Bank Trust Division Buys 440 Shares of Tesla, Inc. (NASDAQ:TSLA)

Central Pacific Bank Trust Division raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,779 shares of the electric vehicle producer’s stock after acquiring an additional 440 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Tesla were worth $1,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter worth about $29,000. Clean Yield Group grew its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded up $25.30 on Friday, reaching $404.58. The company’s stock had a trading volume of 63,032,609 shares, compared to its average volume of 85,397,766. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s 50 day moving average is $359.54 and its two-hundred day moving average is $271.59. The stock has a market cap of $1.30 trillion, a PE ratio of 110.84, a PEG ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock worth $169,393,831 in the last quarter. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on TSLA shares. Bank of America raised their price objective on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Guggenheim increased their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI raised their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $283.39.

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.