Bank of Hawaii Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bank of Hawaii increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 824.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,523 shares of the electric vehicle producer's stock after purchasing an additional 13,843 shares during the period. Bank of Hawaii's holdings in Tesla were worth $6,269,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Destination Wealth Management lifted its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC lifted its position in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after acquiring an additional 891 shares during the period. Worth Asset Management LLC boosted its holdings in Tesla by 383.1% in the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after acquiring an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its position in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock worth $23,242,000 after purchasing an additional 29,458 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSLA. Guggenheim decreased their target price on shares of Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a report on Wednesday, March 12th. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their target price on shares of Tesla from $474.00 to $455.00 and set a "buy" rating for the company in a report on Monday, March 31st. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $298.59.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA stock traded down $3.28 during trading on Monday, hitting $249.03. 51,687,307 shares of the company traded hands, compared to its average volume of 95,845,120. The stock's 50-day simple moving average is $285.19 and its 200 day simple moving average is $323.57. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market cap of $801.01 billion, a PE ratio of 122.07, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.