Janney Montgomery Scott LLC Has $85.48 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Janney Montgomery Scott LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,839 shares of the electric vehicle producer's stock after buying an additional 15,055 shares during the period. Janney Montgomery Scott LLC's holdings in Tesla were worth $85,481,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its position in 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 purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 818,509 shares of company stock valued at $273,791,775. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock opened at $325.31 on Monday. The company's 50-day moving average price is $299.39 and its two-hundred day moving average price is $332.88. The firm has a market cap of $1.05 trillion, a P/E ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $177.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business earned $0.45 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLA. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Guggenheim reaffirmed a "sell" rating and set a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. Barclays cut their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Mizuho raised their target price on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $293.67.

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.

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