Sierra Summit Advisors LLC Buys 16,865 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sierra Summit Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 57.1% in the fourth quarter, Holdings Channel reports. The fund owned 46,399 shares of the electric vehicle producer’s stock after acquiring an additional 16,865 shares during the period. Tesla comprises approximately 3.8% of Sierra Summit Advisors LLC’s holdings, making the stock its 4th biggest position. Sierra Summit Advisors LLC’s holdings in Tesla were worth $18,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,228 shares of company stock worth $122,791,123 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 10.4 %

Shares of Tesla stock opened at $239.43 on Monday. The firm has a market cap of $770.13 billion, a PE ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The business’s 50 day simple moving average is $305.98 and its 200 day simple moving average is $324.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. UBS Group decreased their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. HSBC decreased their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. Finally, Truist Financial reduced their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a research note on Thursday. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $312.65.

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.