Root Financial Partners LLC Has $532,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Root Financial Partners LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,140 shares of the electric vehicle producer’s stock after purchasing an additional 513 shares during the period. Root Financial Partners LLC’s holdings in Tesla were worth $532,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TSLA. MidWestOne Financial Group Inc. grew its stake in Tesla by 3.3% in the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after acquiring an additional 15 shares during the period. City State Bank grew its stake in Tesla by 3.3% in the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after acquiring an additional 40 shares during the period. Marcum Wealth LLC grew its stake in Tesla by 0.6% in the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock valued at $1,850,000 after acquiring an additional 41 shares during the period. Opal Wealth Advisors LLC grew its stake in Tesla by 1.0% in the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after acquiring an additional 42 shares during the period. Finally, Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ TSLA traded down $3.55 on Friday, hitting $171.05. 64,722,669 shares of the company’s stock were exchanged, compared to its average volume of 89,814,936. Tesla, Inc. has a 52 week low of $152.37 and a 52 week high of $299.29. The stock has a market cap of $544.76 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 4.40 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $181.83 and a 200-day moving average of $214.48.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. Analysts expect that Tesla, Inc. will post 1.98 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research reports. China Renaissance initiated coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. KGI Securities restated a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. HSBC cut their price target on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a report on Wednesday, April 3rd. Edward Jones lowered Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Morgan Stanley dropped their target price on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $198.81.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

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.