Romano Brothers AND Company Has $846,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Romano Brothers AND Company reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,094 shares of the electric vehicle producer’s stock after selling 67 shares during the period. Romano Brothers AND Company’s holdings in Tesla were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth about $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla during the third quarter worth about $35,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 3.1 %

TSLA opened at $426.50 on Tuesday. The business’s fifty day simple moving average is $389.94 and its 200 day simple moving average is $288.78. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 over the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Morgan Stanley upped their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Canaccord Genuity Group upped their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $299.33.

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.