Janney Montgomery Scott LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Janney Montgomery Scott LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 314,784 shares of the electric vehicle producer’s stock after selling 6,887 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tesla were worth $127,123,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSLA. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management raised its holdings in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stifel Nicolaus increased their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada increased their price target on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Bank of America cut Tesla from a “buy” rating to a “neutral” rating and increased their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $313.84.

Tesla Trading Down 1.4 %

NASDAQ:TSLA opened at $406.58 on Friday. The firm has a market cap of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The stock has a fifty day moving average price of $397.11 and a 200 day moving average price of $292.97. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 617,886 shares of company stock worth $212,451,751. Company insiders own 20.70% of the company’s stock.

About Tesla

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.