Central Pacific Bank Trust Division Acquires 89 Shares of Tesla, Inc. $TSLA

Central Pacific Bank Trust Division raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,578 shares of the electric vehicle producer’s stock after buying an additional 89 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Tesla were worth $819,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Means Investment CO. Inc. grew its position in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its position in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares during the last quarter. Siren L.L.C. bought a new stake in shares of Tesla during the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC boosted its position in shares of Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla during the first quarter valued at approximately $594,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Robert W. Baird restated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Piper Sandler restated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Finally, Mizuho dropped their target price on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $303.00.

Tesla Trading Up 7.4%

Shares of NASDAQ:TSLA opened at $395.94 on Friday. The company has a market cap of $1.28 trillion, a P/E ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock’s fifty day moving average price is $328.89 and its 200-day moving average price is $303.57.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock valued at $51,999,662 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.