Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,746 shares of the electric vehicle producer’s stock after acquiring an additional 6,112 shares during the period. Summit Trail Advisors LLC’s holdings in Tesla were worth $6,998,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TSLA. Connable Office Inc. raised its holdings in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners increased its position in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the period. Integris Wealth Management LLC raised its stake in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its position 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 acquiring an additional 43 shares during the period. Finally, Altman Advisors Inc. grew its stake in shares of Tesla by 0.4% in the third 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 in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Finally, William Blair started coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $230.18.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $352.56 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.53. The business’s 50-day moving average price is $264.07 and its two-hundred day moving average price is $226.43. The company has a market capitalization of $1.13 trillion, a P/E ratio of 96.59, a price-to-earnings-growth ratio of 11.03 and a beta of 2.29.

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

About Tesla

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.