Summit Financial Wealth Advisors LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Summit Financial Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,218 shares of the electric vehicle producer’s stock after purchasing an additional 812 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Tesla were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Key Financial Inc raised its holdings in Tesla by 213.5% in the 3rd quarter. Key Financial Inc now owns 1,743 shares of the electric vehicle producer’s stock worth $462,000 after purchasing an additional 1,187 shares during the period. Lauterbach Financial Advisors LLC bought a new position in Tesla in the 3rd quarter worth $228,000. State of New Jersey Common Pension Fund D raised its holdings in Tesla by 201.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,545,177 shares of the electric vehicle producer’s stock worth $409,858,000 after purchasing an additional 1,032,779 shares during the period. Supplemental Annuity Collective Trust of NJ raised its holdings in Tesla by 200.0% in the 3rd quarter. Supplemental Annuity Collective Trust of NJ now owns 2,520 shares of the electric vehicle producer’s stock worth $668,000 after purchasing an additional 1,680 shares during the period. Finally, Spinnaker Trust raised its holdings in Tesla by 189.0% in the 3rd quarter. Spinnaker Trust now owns 3,153 shares of the electric vehicle producer’s stock worth $836,000 after purchasing an additional 2,062 shares during the period. 43.00% of the stock is owned by institutional investors.

Tesla Trading Up 7.4 %

Shares of NASDAQ TSLA opened at $131.49 on Wednesday. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $384.29. The business’s 50 day moving average is $154.22 and its two-hundred day moving average is $224.00. The stock has a market capitalization of $415.21 billion, a P/E ratio of 40.63, a PEG ratio of 0.95 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04.

Tesla (NASDAQ:TSLAGet Rating) last announced its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 55.9% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 3.6 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Daiwa Capital Markets decreased their price target on Tesla from $240.00 to $177.00 and set an “outperform” rating on the stock in a report on Tuesday, December 20th. Evercore ISI decreased their price target on Tesla from $300.00 to $200.00 and set an “in-line” rating on the stock in a report on Tuesday, December 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $270.00 to $250.00 in a report on Tuesday, January 3rd. Wells Fargo & Company decreased their price target on Tesla from $230.00 to $130.00 and set an “equal weight” rating on the stock in a report on Friday, January 13th. Finally, Wedbush decreased their price target on Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, December 23rd. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $220.48.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the transaction, the chief financial officer now owns 200,411 shares in the company, valued at $21,906,926.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total value of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares in the company, valued at $21,906,926.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. Insiders sold 24,172,833 shares of company stock worth $4,492,567,309 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Tesla Company Profile

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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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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