Central Pacific Bank Trust Division Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Central Pacific Bank Trust Division bought a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,430 shares of the electric vehicle producer’s stock, valued at approximately $601,000.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 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 valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $1.45 during trading on Wednesday, hitting $263.78. 16,570,701 shares of the company were exchanged, compared to its average volume of 97,842,492. The firm’s fifty day moving average price is $188.52 and its 200 day moving average price is $190.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $841.25 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 6.27 and a beta of 2.31. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, sell-side analysts expect that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. New Street Research reaffirmed a “buy” rating and set a $235.00 price objective on shares of Tesla in a research report on Tuesday, June 25th. The Goldman Sachs Group upped their price target on Tesla from $175.00 to $248.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial reissued a “hold” rating and set a $162.00 price objective on shares of Tesla in a report on Wednesday, July 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $195.06.

View Our Latest Stock Report on TSLA

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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