Tesla, Inc. $TSLA Shares Sold by First Hawaiian Bank

Key Points

• First Hawaiian Bank has reduced its stake in Tesla, Inc. by 11.9%, selling 1,276 shares, bringing their total holdings to 9,448 shares worth $2,449,000.
• Several investment firms, including CBIZ and Hodges Capital Management, have significantly increased their stakes in Tesla, highlighting a mixed sentiment among institutional investors.
• Tesla reported an EPS of $0.40 for the last quarter, missing estimates, while revenue declined by 11.8% year-over-year, amounting to $22.50 billion.

First Hawaiian Bank reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,448 shares of the electric vehicle producer's stock after selling 1,276 shares during the quarter. First Hawaiian Bank's holdings in Tesla were worth $2,449,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC increased its stake in Tesla by 147.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 1,024 shares of the electric vehicle producer's stock worth $265,000 after buying an additional 610 shares during the period. Hodges Capital Management Inc. increased its stake in Tesla by 58.8% during the 1st quarter. Hodges Capital Management Inc. now owns 3,178 shares of the electric vehicle producer's stock worth $824,000 after buying an additional 1,177 shares during the period. Integrity Wealth Advisors Inc. increased its stake in Tesla by 37.0% during the 1st quarter. Integrity Wealth Advisors Inc. now owns 2,802 shares of the electric vehicle producer's stock worth $726,000 after buying an additional 757 shares during the period. Modern Wealth Management LLC increased its stake in Tesla by 58.6% during the 1st quarter. Modern Wealth Management LLC now owns 15,043 shares of the electric vehicle producer's stock worth $3,898,000 after buying an additional 5,557 shares during the period. Finally, Nova Wealth Management Inc. increased its stake in Tesla by 92.5% during the 1st quarter. Nova Wealth Management Inc. now owns 1,199 shares of the electric vehicle producer's stock worth $311,000 after buying an additional 576 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Canaccord Genuity Group increased their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $303.00.

Tesla Trading Up 7.4%

NASDAQ TSLA opened at $395.94 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm's fifty day moving average price is $328.89 and its 200 day moving average price is $303.48. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

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

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the 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 transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,606 shares of company stock valued at $51,999,662 in the last ninety days. Insiders own 20.70% of the company's stock.

Tesla 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.

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