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

Key Points

• Summit Financial LLC increased its Tesla stake by 4.5% in the fourth quarter, buying 4,338 additional shares and bringing its total to 100,594 shares worth about $45.2 million.
• Institutional ownership of Tesla remains high at 66.2%, while several other hedge funds also reported new or larger positions in the stock.
• Wall Street sentiment is mixed but generally cautious: Tesla has an average Hold rating, even as some analysts raised price targets and highlighted long-term growth themes like autonomy, AI, robotics, and energy storage.

Summit Financial LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,594 shares of the electric vehicle producer's stock after purchasing an additional 4,338 shares during the quarter. Tesla accounts for approximately 0.7% of Summit Financial LLC's investment portfolio, making the stock its 20th largest position. Summit Financial LLC's holdings in Tesla were worth $45,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Networth Advisors LLC bought a new stake in Tesla during the fourth quarter worth about $26,000. Chapman Financial Group LLC bought a new stake in Tesla during the second quarter worth about $26,000. Davidson Capital Management Inc. lifted its position in Tesla by 79.4% during the fourth 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 during the period. Prism Advisors Inc. bought a new stake in Tesla during the fourth quarter worth about $30,000. Finally, Turning Point Benefit Group Inc. bought a new stake in Tesla during the third quarter worth about $30,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Tesla from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $145.00 to $475.00 in a research report on Friday, June 5th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Thursday. Wedbush reiterated an "outperform" rating and issued a $600.00 target price on shares of Tesla in a research report on Tuesday, April 21st. HSBC started coverage on shares of Tesla in a research report on Monday, April 27th. They set a "buy" rating for the company. Finally, Tigress Financial began coverage on shares of Tesla in a research report on Monday, April 27th. They set a "buy" rating for the company. Twenty-two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus price target of $404.37.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 company's stock in a transaction that occurred 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 completion of the sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,824 shares of company stock worth $21,657,588 over the last quarter. 19.90% of the stock is currently owned by company insiders.

Key Stories 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 Stock Performance

Shares of TSLA stock opened at $406.43 on Friday. The business's 50 day simple moving average is $398.35 and its 200 day simple moving average is $416.01. Tesla, Inc. has a one year low of $288.77 and a one year high of $498.83. The stock has a market capitalization of $1.53 trillion, a PE ratio of 372.87, a PEG ratio of 15.96 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion for the quarter, compared to analysts' expectations of $22.96 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm's revenue was up 15.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.19 earnings per share for the current 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.

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