Romano Brothers AND Company Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Romano Brothers AND Company decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in shares of Tesla during the 1st quarter valued at $79,000. Wealthcare Advisory Partners LLC grew its holdings in Tesla by 3.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock valued at $2,576,000 after buying an additional 501 shares in the last quarter. Register Financial Advisors LLC increased its position in shares of Tesla by 32.7% during the first quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock valued at $295,000 after buying an additional 413 shares during the period. Kathmere Capital Management LLC boosted its position in shares of Tesla by 9.2% in the first quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after acquiring an additional 99 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its stake in Tesla by 4.3% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock valued at $260,000 after acquiring an additional 67 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Barclays decreased their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Finally, Mizuho upped their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $218.18.

Tesla Stock Up 21.9 %

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 current ratio of 1.91 and a quick ratio of 1.40. The stock’s 50-day moving average is $228.54 and its 200 day moving average is $206.41. The company has a market cap of $832.14 billion, a PE ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced 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 company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

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.