Bank of Hawaii Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bank of Hawaii raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 824.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,523 shares of the electric vehicle producer’s stock after purchasing an additional 13,843 shares during the quarter. Bank of Hawaii’s holdings in Tesla were worth $6,269,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. Wedbush lowered their price target on Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research report on Monday. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Truist Financial reduced their price target on Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $301.40.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction 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 owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 22.7 %

TSLA opened at $272.20 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50 day simple moving average of $290.62 and a 200-day simple moving average of $323.14. The stock has a market capitalization of $875.54 billion, a P/E ratio of 133.43, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.