Central Pacific Bank Trust Division Sells 2,290 Shares of Tesla, Inc. (NASDAQ:TSLA)

Central Pacific Bank Trust Division cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,489 shares of the electric vehicle producer's stock after selling 2,290 shares during the period. Central Pacific Bank Trust Division's holdings in Tesla were worth $645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vista Finance LLC grew its stake in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after buying an additional 25 shares in the last quarter. Prospect Financial Services LLC grew its stake in Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock worth $3,029,000 after buying an additional 26 shares in the last quarter. Jmac Enterprises LLC boosted its stake in shares of Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after purchasing an additional 26 shares in the last quarter. TFB Advisors LLC boosted its stake in shares of Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer's stock valued at $2,105,000 after purchasing an additional 27 shares in the last quarter. Finally, Vista Capital Partners Inc. boosted its stake in shares of Tesla by 1.4% in the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock valued at $795,000 after purchasing an additional 27 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the 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 represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock valued at $320,019,942 over the last three months. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

TSLA traded down $9.34 during trading on Friday, hitting $349.09. 122,996,137 shares of the company traded hands, compared to its average volume of 98,157,709. The firm has a market cap of $1.12 trillion, a P/E ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock's fifty day moving average is $286.92 and its 200 day moving average is $333.95.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company earned $0.45 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. Mizuho raised their price target on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Argus set a $410.00 target price on shares of Tesla in a research report on Thursday, April 24th. Finally, Benchmark reiterated a "buy" rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $293.97.

Tesla Company 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.