First Hawaiian Bank Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

First Hawaiian Bank raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,724 shares of the electric vehicle producer’s stock after acquiring an additional 1,573 shares during the quarter. First Hawaiian Bank’s holdings in Tesla were worth $4,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connable Office Inc. boosted its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares during the period. Community Bank N.A. grew its position in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners raised its stake in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after purchasing an additional 43 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 514,886 shares of company stock worth $169,393,831. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Stifel Nicolaus upped their price target on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird lifted their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $295.69.

Tesla Trading Up 0.1 %

Shares of Tesla stock traded up $0.58 during midday trading on Wednesday, reaching $394.94. 71,782,939 shares of the company’s stock traded hands, compared to its average volume of 87,590,609. The company has a market cap of $1.27 trillion, a PE ratio of 108.20, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The stock has a 50 day moving average of $368.03 and a 200-day moving average of $277.49. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.