Janney Montgomery Scott LLC Sells 6,887 Shares of Tesla, Inc. (NASDAQ:TSLA)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group increased its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter worth $35,000. M&R Capital Management Inc. increased its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Finley Financial LLC purchased a new position in Tesla during the 4th quarter worth $64,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Jefferies Financial Group raised their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Royal Bank of Canada lifted 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. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group boosted their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Stock Down 1.4 %

Shares of TSLA stock opened at $406.58 on Friday. The stock’s 50-day simple moving average is $397.11 and its 200-day simple moving average is $292.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla 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.