Summit Financial LLC Acquires 4,338 Shares of Tesla, Inc. $TSLA

Summit Financial LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,594 shares of the electric vehicle producer’s stock after buying an additional 4,338 shares during the period. Tesla makes up 0.7% of Summit Financial LLC’s investment portfolio, making the stock its 20th largest holding. Summit Financial LLC’s holdings in Tesla were worth $45,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Chapman Financial Group LLC bought a new position in shares of Tesla in the 2nd quarter worth $26,000. Networth Advisors LLC bought a new position in shares of Tesla in the 4th quarter worth $26,000. Davidson Capital Management Inc. lifted its holdings in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Tesla in the 3rd quarter worth $30,000. Finally, Prism Advisors Inc. bought a new position in shares of Tesla in the 4th quarter worth $30,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares of the company’s stock, valued at $8,864,085.80. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 57,824 shares of company stock valued at $21,657,588. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tesla in a report on Monday, June 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a report on Friday, April 24th. BNP Paribas Exane cut Tesla from a “hold” rating to an “underperform” rating in a report on Friday, June 5th. JPMorgan Chase & Co. upgraded Tesla from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $145.00 to $475.00 in a report on Friday, June 5th. Finally, UBS Group increased their target price on Tesla from $352.00 to $364.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Twenty-two analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $404.37.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is still benefiting from its autonomy and AI story, with reports highlighting its unsupervised robotaxi rollout and expanded Full Self-Driving approvals in Europe, including Belgium and Denmark. Tesla Robotaxi Rollout And FSD Expansion Test Rich Valuation Narrative
• Positive Sentiment: Some analysts remain constructive on Tesla’s long-term growth, pointing to underappreciated opportunities in autonomous vehicles, humanoid robotics, and energy storage, which supports the bull case despite near-term volatility. JPMorgan Echoes Why Tesla, Inc. (TSLA) is One of the Best Forever Stocks to Buy
• Neutral Sentiment: There is also ongoing merger speculation between Tesla and SpaceX, with Gwynne Shotwell saying a tie-up “might make Elon’s life a little easier,” but this remains highly speculative and not an immediate business catalyst. SpaceX COO Shotwell says Tesla tie-up ‘might make Elon’s life a little easier’
• Neutral Sentiment: New articles comparing Tesla with BYD and discussing how SpaceX’s debut compares with Tesla’s history are mostly narrative-driven and do not change Tesla’s fundamentals by themselves. Is it too late to buy SpaceX’s stock? Here’s how Tesla’s did after one day and five years.
• Negative Sentiment: Multiple pieces say Tesla may be losing investor attention to SpaceX, with fears that capital is being redirected to the high-profile IPO; that dynamic has weighed on TSLA sentiment. What’s Going On With Tesla Stock Friday
• Negative Sentiment: Bearish commentary also remains in the background, including a Glj Research “sell” reaffirmation and articles arguing Tesla’s battery advantage is thinning, which adds pressure on valuation concerns. Tesla: The Battery Moat Is Becoming Thinner

Tesla Trading Up 1.8%

NASDAQ TSLA opened at $406.43 on Friday. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 372.87, a PEG ratio of 15.96 and a beta of 1.80. The business has a fifty day simple moving average of $398.35 and a 200 day simple moving average of $416.01. Tesla, Inc. has a 12 month low of $288.77 and a 12 month high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, analysts predict that Tesla, Inc. will post 1.19 EPS for the current fiscal year.

About Tesla

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.