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

Romano Brothers AND Company trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,038 shares of the electric vehicle producer’s stock after selling 56 shares during the quarter. Romano Brothers AND Company’s holdings in Tesla were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC lifted its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. HSBC decreased their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Glj Research restated a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Wedbush restated an “outperform” rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $293.97.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 866,393 shares of company stock worth $284,570,654. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 0.5%

Shares of Tesla stock opened at $344.27 on Wednesday. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The stock has a market cap of $1.11 trillion, a PE ratio of 168.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a 50-day moving average of $289.75 and a two-hundred day moving average of $334.35. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.