Tesla, Inc. $TSLA Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Tesla by 4.4%, now holding 315,362 shares valued at approximately $100.2 million.
• Several institutional investors have increased their holdings in Tesla, with notable increases including Cherry Tree Wealth Management's 86.3% increase and First PREMIER Bank's 79.2% increase during the first quarter.
• Tesla's stock price opened at $444.72, marking a 12-month high of $488.54, but earnings reports revealed a decrease in revenue and EPS, missing analyst estimates.

Janney Montgomery Scott LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 315,362 shares of the electric vehicle producer's stock after selling 14,477 shares during the quarter. Janney Montgomery Scott LLC's holdings in Tesla were worth $100,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. raised its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Company insiders own 19.90% of the company's stock.

Tesla Stock Up 0.3%

TSLA opened at $444.72 on Wednesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The business has a 50-day moving average of $356.59 and a two-hundred day moving average of $317.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 257.06, a price-to-earnings-growth ratio of 15.46 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. CICC Research raised their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Canaccord Genuity Group raised their price target on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research report on Tuesday. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Piper Sandler lifted their price objective on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday, September 22nd. Finally, HSBC boosted their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $337.15.

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.

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