Janney Montgomery Scott LLC cut its holdings in Tesla Inc (NASDAQ:TSLA) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,373 shares of the electric vehicle producer’s stock after selling 649 shares during the period. Janney Montgomery Scott LLC’s holdings in Tesla were worth $15,216,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of TSLA. Mackenzie Financial Corp increased its holdings in shares of Tesla by 23.1% in the 2nd quarter. Mackenzie Financial Corp now owns 6,615 shares of the electric vehicle producer’s stock worth $1,478,000 after buying an additional 1,241 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Tesla by 5.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 464,176 shares of the electric vehicle producer’s stock worth $103,725,000 after buying an additional 25,963 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Tesla by 877.2% in the 2nd quarter. Centaurus Financial Inc. now owns 1,114 shares of the electric vehicle producer’s stock worth $249,000 after buying an additional 1,000 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Tesla by 24.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,125 shares of the electric vehicle producer’s stock worth $251,000 after buying an additional 219 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in shares of Tesla in the 2nd quarter worth about $136,994,000. Hedge funds and other institutional investors own 52.61% of the company’s stock.
In other Tesla news, Director Kimbal Musk sold 64,190 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $350.06, for a total value of $22,470,351.40. Following the completion of the sale, the director now directly owns 198,238 shares of the company’s stock, valued at approximately $69,395,194.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jerome M. Guillen sold 8,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $305.00, for a total transaction of $2,440,000.00. Following the completion of the sale, the insider now directly owns 16,973 shares of the company’s stock, valued at $5,176,765. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,681 shares of company stock valued at $33,867,895. 24.40% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on TSLA shares. Bank of America boosted their target price on shares of Tesla from $225.00 to $235.00 and gave the stock an “underperform” rating in a report on Thursday, October 24th. Morgan Stanley downgraded shares of Tesla from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $250.00 to $360.00 in a report on Thursday, January 16th. They noted that the move was a valuation call. Deutsche Bank upped their price target on shares of Tesla from $290.00 to $455.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Needham & Company LLC reiterated an “underperform” rating on shares of Tesla in a report on Thursday, October 3rd. Finally, Piper Jaffray Companies upped their price target on shares of Tesla from $372.00 to $423.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Nineteen research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Tesla has a consensus rating of “Hold” and an average target price of $352.22.
Tesla stock opened at $569.56 on Thursday. The stock has a market cap of $102.66 billion, a price-to-earnings ratio of -117.43, a price-to-earnings-growth ratio of 3.54 and a beta of 0.64. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 0.73. Tesla Inc has a 1 year low of $176.99 and a 1 year high of $547.41. The firm has a 50-day moving average of $430.06 and a two-hundred day moving average of $304.53.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $2.28. The company had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.48 billion. Tesla had a negative net margin of 3.39% and a negative return on equity of 13.42%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.90 EPS. Research analysts expect that Tesla Inc will post -4.51 earnings per share for the current year.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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