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

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

Several other large investors also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. acquired a new stake in Tesla during the 4th quarter worth about $25,000. Mendota Financial Group LLC grew its stake in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the 4th quarter valued at about $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter worth approximately $47,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA traded up $1.45 during mid-day trading on Wednesday, hitting $263.78. The company’s stock had a trading volume of 16,570,701 shares, compared to its average volume of 97,842,492. The stock’s 50-day moving average is $188.52 and its two-hundred day moving average is $190.90. The firm has a market capitalization of $841.25 billion, a PE ratio of 67.35, a price-to-earnings-growth ratio of 6.27 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. New Street Research restated a “buy” rating and set a $235.00 price target on shares of Tesla in a report on Tuesday, June 25th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Barclays lowered their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group cut their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $195.06.

View Our Latest Stock Analysis on TSLA

Insider Activity at Tesla

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

Tesla Profile

(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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