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

Summit Trail Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.7% during the 4th quarter, HoldingsChannel reports. The firm owned 22,619 shares of the electric vehicle producer’s stock after purchasing an additional 5,822 shares during the quarter. Summit Trail Advisors LLC’s holdings in Tesla were worth $5,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tesla by 1.6% in the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after acquiring an additional 3,453,078 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Tesla by 34.0% in the third quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock valued at $2,260,039,000 after acquiring an additional 2,293,344 shares during the last quarter. Morgan Stanley lifted its holdings in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $4.90 during trading on Tuesday, reaching $179.86. The company had a trading volume of 28,973,411 shares, compared to its average volume of 103,570,523. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The stock has a market capitalization of $573.61 billion, a PE ratio of 47.13, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. The stock has a 50-day moving average price of $173.56 and a two-hundred day moving average price of $204.56. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley decreased their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Evercore ISI decreased their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, April 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research report on Monday, April 22nd. Finally, Redburn Atlantic started coverage on Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective on the stock. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $185.90.

Tesla 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.