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

Janney Montgomery Scott LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 206.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,472 shares of the electric vehicle producer’s stock after purchasing an additional 234,031 shares during the period. Janney Montgomery Scott LLC’s holdings in Tesla were worth $92,167,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Emerald Mutual Fund Advisers Trust lifted its position in shares of Tesla by 204.7% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,173 shares of the electric vehicle producer’s stock worth $311,000 after purchasing an additional 788 shares during the last quarter. Emerald Advisers LLC lifted its position in shares of Tesla by 200.0% during the 3rd quarter. Emerald Advisers LLC now owns 3,855 shares of the electric vehicle producer’s stock worth $1,023,000 after purchasing an additional 2,570 shares during the last quarter. MA Private Wealth lifted its position in shares of Tesla by 200.0% during the 3rd quarter. MA Private Wealth now owns 4,659 shares of the electric vehicle producer’s stock worth $984,000 after purchasing an additional 3,106 shares during the last quarter. Guyasuta Investment Advisors Inc. lifted its position in Tesla by 200.0% in the third quarter. Guyasuta Investment Advisors Inc. now owns 6,432 shares of the electric vehicle producer’s stock valued at $1,706,000 after acquiring an additional 4,288 shares during the last quarter. Finally, WNY Asset Management LLC lifted its position in Tesla by 219.8% in the third quarter. WNY Asset Management LLC now owns 2,501 shares of the electric vehicle producer’s stock valued at $664,000 after acquiring an additional 1,719 shares during the last quarter. 43.00% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 0.8 %

Shares of TSLA opened at $118.85 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $162.28 and its two-hundred day moving average is $227.77. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29. The firm has a market capitalization of $375.30 billion, a P/E ratio of 36.72, a PEG ratio of 0.83 and a beta of 2.02.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The business had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.96 billion. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The company’s quarterly revenue was up 55.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. On average, research analysts predict that Tesla, Inc. will post 3.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Tesla in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Global Equities Research reissued a “buy” rating on shares of Tesla in a research report on Tuesday, November 8th. Oppenheimer cut shares of Tesla from an “outperform” rating to a “market perform” rating in a research report on Monday, December 19th. Wells Fargo & Company reduced their price target on shares of Tesla from $280.00 to $230.00 and set an “equal weight” rating for the company in a research report on Friday, October 14th. Finally, Citigroup raised shares of Tesla from a “sell” rating to a “neutral” rating and upped their target price for the company from $141.33 to $176.00 in a report on Wednesday, November 23rd. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $230.20.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,751 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $222.50, for a total value of $834,597.50. Following the sale, the chief financial officer now directly owns 185,276 shares in the company, valued at $41,223,910. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Zachary Kirkhorn sold 3,751 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $222.50, for a total value of $834,597.50. Following the sale, the chief financial officer now directly owns 185,276 shares in the company, valued at $41,223,910. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the sale, the senior vice president now owns 62,988 shares in the company, valued at $14,484,090.60. The disclosure for this sale can be found here. Insiders have sold 24,172,833 shares of company stock worth $4,492,567,309 over the last ninety days. 25.10% of the stock is currently owned by insiders.

Tesla Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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