Summit Trail Advisors LLC Has $15.37 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Summit Trail Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,066 shares of the electric vehicle producer's stock after purchasing an additional 11,320 shares during the period. Tesla accounts for 0.6% of Summit Trail Advisors LLC's portfolio, making the stock its 23rd largest holding. Summit Trail Advisors LLC's holdings in Tesla were worth $15,373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares during the last quarter. FMR LLC grew its holdings in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer's stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America downgraded shares of Tesla from a "buy" rating to a "neutral" rating and raised 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 shares of Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Royal Bank of Canada restated an "outperform" rating and issued a $440.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Finally, Robert W. Baird decreased their price target on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $326.50.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company's stock, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock traded down $1.20 during trading on Tuesday, reaching $354.65. The company's stock had a trading volume of 27,747,998 shares, compared to its average volume of 75,893,945. The stock has a 50-day moving average price of $405.64 and a two-hundred day moving average price of $309.75. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 173.83, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.54 EPS 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.