Romano Brothers AND Company Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Romano Brothers AND Company reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the third quarter, HoldingsChannel reports. The fund owned 2,161 shares of the electric vehicle producer’s stock after selling 70 shares during the period. Romano Brothers AND Company’s holdings in Tesla were worth $565,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc increased its position in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the last quarter. Entropy Technologies LP bought a new position in Tesla in the 1st quarter valued at approximately $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Tesla during the 1st quarter valued at $79,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. HSBC reaffirmed a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $218.18.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $260.48 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company’s fifty day moving average price is $228.54 and its 200 day moving average price is $206.41. The company has a market capitalization of $832.14 billion, a PE ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. On average, research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.