Summit Trail Advisors LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Summit Trail Advisors LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 42.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,066 shares of the electric vehicle producer’s stock after buying an additional 11,320 shares during the quarter. Tesla accounts for approximately 0.6% of Summit Trail Advisors LLC’s holdings, 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 SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. bought a new position in shares of Tesla in the 3rd quarter worth approximately $35,000. Finley Financial LLC purchased a new position in shares of Tesla in the fourth quarter worth approximately $64,000. E Fund Management Hong Kong Co. Ltd. grew its position in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the period. Finally, Crews Bank & Trust bought a new position in Tesla in the fourth quarter worth approximately $91,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.0 %

Shares of NASDAQ TSLA opened at $355.84 on Friday. The company has a market cap of $1.14 trillion, a P/E ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34. The firm has a 50-day simple moving average of $406.98 and a two-hundred day simple moving average of $306.79. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. 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) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Research analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSLA shares. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Nine 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $326.50.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by company insiders.

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.