Bank of Hawaii Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bank of Hawaii lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680 shares of the electric vehicle producer’s stock after selling 402 shares during the period. Bank of Hawaii’s holdings in Tesla were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TSLA. Oppenheimer & Co. Inc. grew its position in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management lifted its stake in Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in shares of Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its holdings in shares of Tesla by 102.0% in the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock worth $1,465,000 after acquiring an additional 2,827 shares during the last quarter. Finally, West Family Investments Inc. boosted its stake in shares of Tesla by 20.8% in the 3rd quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock valued at $2,361,000 after purchasing an additional 1,556 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays increased their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $231.06.

Tesla Trading Down 4.0 %

Shares of NASDAQ:TSLA opened at $338.59 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a market cap of $1.09 trillion, a P/E ratio of 92.76, a PEG ratio of 11.45 and a beta of 2.29. The stock’s fifty day moving average price is $266.31 and its 200-day moving average price is $227.97.

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. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.