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

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

Several other hedge funds have also recently made changes to their positions in TSLA. McElhenny Sheffield Capital Management LLC grew its stake in Tesla by 54.9% in the 4th quarter. McElhenny Sheffield Capital Management LLC now owns 1,657 shares of the electric vehicle producer’s stock worth $669,000 after acquiring an additional 587 shares in the last quarter. Mission Hills Financial Advisory LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $245,000. Oak Ridge Investments LLC boosted its stake in shares of Tesla by 6.0% during the fourth quarter. Oak Ridge Investments LLC now owns 40,815 shares of the electric vehicle producer’s stock valued at $16,483,000 after purchasing an additional 2,312 shares in the last quarter. GenWealth Group Inc. purchased a new stake in Tesla during the fourth quarter valued at approximately $213,000. Finally, Aaron Wealth Advisors LLC lifted its position in Tesla by 25.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 13,410 shares of the electric vehicle producer’s stock valued at $5,415,000 after acquiring an additional 2,680 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 3.1 %

Shares of Tesla stock opened at $426.50 on Tuesday. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a PEG 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. The stock has a 50 day moving average price of $389.94 and a two-hundred day moving average price of $288.78. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Truist Financial reiterated a “hold” rating and issued a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Finally, Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $299.33.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the 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 sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

Tesla 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.