Summit Global Investments Has $962,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Summit Global Investments grew its position in Tesla, Inc. (NASDAQ:TSLA) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,871 shares of the electric vehicle producer’s stock after purchasing an additional 376 shares during the quarter. Summit Global Investments’ holdings in Tesla were worth $962,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TSLA. Miller Wealth Advisors LLC lifted its position in shares of Tesla by 79.3% during the 4th quarter. Miller Wealth Advisors LLC now owns 502 shares of the electric vehicle producer’s stock worth $125,000 after purchasing an additional 222 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Tesla by 19.6% in the fourth quarter. Benjamin Edwards Inc. now owns 16,402 shares of the electric vehicle producer’s stock valued at $4,076,000 after acquiring an additional 2,683 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Tesla by 1.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,035,359 shares of the electric vehicle producer’s stock worth $257,266,000 after acquiring an additional 10,121 shares during the last quarter. Coombe Bender & Co LLC bought a new position in Tesla during the fourth quarter worth $212,000. Finally, Fisher Asset Management LLC raised its stake in Tesla by 48.0% during the 4th quarter. Fisher Asset Management LLC now owns 22,564 shares of the electric vehicle producer’s stock valued at $5,607,000 after purchasing an additional 7,319 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. China Renaissance started coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Cantor Fitzgerald began coverage on Tesla in a research report on Thursday. They set an “overweight” rating and a $230.00 target price on the stock. Barclays cut their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company cut their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $185.90.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 in the last quarter. 25.10% of the stock is owned by company insiders.

Tesla Trading Up 0.7 %

TSLA stock traded up $1.18 during midday trading on Friday, reaching $181.19. The stock had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a market cap of $577.85 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 4.71 and a beta of 2.41. The business has a fifty day simple moving average of $174.07 and a two-hundred day simple moving average of $205.92.

Tesla Company 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.