Summit Trail Advisors LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Summit Trail Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 42.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,066 shares of the electric vehicle producer’s stock after acquiring an additional 11,320 shares during the quarter. Tesla makes up about 0.6% of Summit Trail Advisors LLC’s portfolio, making the stock its 23rd biggest position. Summit Trail Advisors LLC’s holdings in Tesla were worth $15,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the 3rd quarter valued at approximately $35,000. Finley Financial LLC purchased a new stake in shares of Tesla in the 4th quarter valued at $64,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the period. Finally, Crews Bank & Trust purchased a new position in shares of Tesla during the fourth quarter worth $91,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 523,386 shares of company stock worth $195,995,200. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $355.84 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $1.14 trillion, a PE ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The firm’s 50-day moving average is $406.98 and its two-hundred day moving average is $306.79. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Wednesday. Wedbush upped their price objective on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Benchmark initiated coverage on shares of Tesla in a research note on Wednesday. They issued a “buy” rating and a $475.00 target price for the company. Finally, Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $326.50.

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.