Janney Montgomery Scott LLC Trims Stake in Tesla, Inc. $TSLA

Janney Montgomery Scott LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.8% during the first quarter, Holdings Channel.com reports. The fund owned 292,524 shares of the electric vehicle producer’s stock after selling 28,379 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tesla were worth $108,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Tesla in the fourth quarter worth approximately $17,128,100,000. Corient Private Wealth LLC lifted its position in Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE grew its stake in Tesla by 56.0% in the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock worth $9,334,211,000 after buying an additional 7,450,766 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Tesla by 882.8% in the 4th quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock worth $3,688,630,000 after buying an additional 7,367,507 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after buying an additional 6,538,720 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 8.5%

NASDAQ TSLA opened at $411.84 on Tuesday. Tesla, Inc. has a 1-year low of $288.77 and a 1-year high of $498.83. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $406.07 and a 200-day moving average of $412.75. The firm has a market cap of $1.55 trillion, a PE ratio of 377.83, a price-to-earnings-growth ratio of 15.18 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.19 EPS for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s FSD V14 Lite rollout and software boost for older cars renewed enthusiasm around its self-driving and robotaxi prospects. Tesla’s stock rips higher after a long-awaited update to self-driving technology
• Positive Sentiment: Strong pre-delivery optimism continues, with Morgan Stanley raising its Q2 delivery estimate on better Europe and China trends. Morgan Stanley Lifts Tesla Delivery Forecast on Stronger Europe and China Demand (TSLA)
• Positive Sentiment: Bullish sector sentiment and a tech rebound lifted EV stocks broadly, adding momentum to TSLA. TSLA, LCID, RIVN: Here’s Why EV Stocks Are Surging Today
• Neutral Sentiment: Investors are awaiting Tesla’s Q2 delivery report, which remains a key near-term catalyst. Tesla Reports Q2 Deliveries in a Matter of Days. Here’s the Number That Matters.
• Negative Sentiment: Some analysts still say Tesla’s valuation depends on much higher FSD performance, showing continued skepticism around autonomy timelines. Tesla Stock (TSLA) Won’t Beat the Nasdaq Until FSD Hits 99.99%, Analyst Warns

Analyst Ratings Changes

A number of analysts have recently issued reports on TSLA shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a report on Monday, June 1st. TD Cowen reissued a “buy” rating on shares of Tesla in a report on Monday. BTIG Research downgraded Tesla to a “neutral” rating in a research report on Friday, June 5th. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Friday, June 12th. Finally, Guggenheim started coverage on shares of Tesla in a research note on Monday. They set a “neutral” rating on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $403.07.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares in the company, valued at $18,300,145.89. This represents a 35.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 32,015 shares of company stock valued at $12,383,640. Insiders own 19.90% of the company’s stock.

Tesla Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.