Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Rooted Wealth Advisors Inc.

Rooted Wealth Advisors Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,666 shares of the electric vehicle producer’s stock after acquiring an additional 183 shares during the quarter. Rooted Wealth Advisors Inc.’s holdings in Tesla were worth $638,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. True Wealth Design LLC raised its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter valued at $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 2.6%

TSLA stock opened at $349.09 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50-day moving average of $286.92 and a two-hundred day moving average of $333.95. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 984,783 shares of company stock worth $320,019,942. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird dropped their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Finally, Roth Mkm dropped their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Ten 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $293.97.

Tesla Company 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.