Summitry LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Summitry LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,065 shares of the electric vehicle producer’s stock after selling 248 shares during the quarter. Summitry LLC’s holdings in Tesla were worth $430,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TSLA. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Tesla in the fourth quarter valued at about $38,000. Cyrus J. Lawrence LLC bought a new position in Tesla in the fourth quarter worth about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the fourth quarter valued at about $46,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction 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 $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Mizuho decreased their price objective on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Guggenheim dropped their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Bank of America lowered their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Stifel Nicolaus cut their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Trading Up 3.4 %

Shares of NASDAQ:TSLA opened at $287.95 on Wednesday. The business’s 50 day moving average price is $330.52 and its 200-day moving average price is $322.04. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market capitalization of $926.20 billion, a price-to-earnings ratio of 141.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 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 research analysts forecast 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.