Janney Montgomery Scott LLC Cuts Position in Tesla, Inc. $TSLA

Janney Montgomery Scott LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,524 shares of the electric vehicle producer’s stock after selling 28,379 shares during the period. Janney Montgomery Scott LLC’s holdings in Tesla were worth $108,746,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TSLA. Networth Advisors LLC purchased a new position in shares of Tesla in the 4th quarter worth about $26,000. Chapman Financial Group LLC purchased a new stake in Tesla during the second quarter worth about $26,000. Davidson Capital Management Inc. increased its holdings in Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 27 shares during the last quarter. Friedenthal Financial raised its position in Tesla by 66.7% in the first quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 30 shares during the period. Finally, Prism Advisors Inc. bought a new stake in Tesla in the fourth quarter worth about $30,000. 66.20% of the stock is currently owned by institutional investors.

Key Headlines Impacting Tesla

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

Tesla Stock Up 8.5%

TSLA opened at $411.84 on Tuesday. The company has a 50 day moving average of $406.07 and a 200 day moving average of $412.75. The company 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, Inc. has a 12 month low of $288.77 and a 12 month 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.

Tesla (NASDAQ:TSLA) last posted its 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. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 1.19 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. BNP Paribas Exane downgraded shares of Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. Robert W. Baird lowered their price target on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Roth Mkm reissued a “buy” rating on shares of Tesla in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft began coverage on Tesla in a research report on Friday, June 5th. They issued a “buy” rating for the company. Finally, TD Cowen restated a “buy” rating on shares of Tesla in a research note on Monday. Twenty-one analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $403.07.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer owned 22,039 shares of the company’s stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is currently owned by corporate insiders.

Tesla Company 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.