Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Root Financial Partners LLC

Root Financial Partners LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,918 shares of the electric vehicle producer's stock after selling 955 shares during the period. Root Financial Partners LLC's holdings in Tesla were worth $2,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Rinkey Investments grew its holdings in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares during the period. Bell Investment Advisors Inc raised its holdings in Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after buying an additional 30 shares during the period. Pitti Group Wealth Management LLC increased its position in shares of Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after acquiring an additional 31 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Finally, Garrett Wealth Advisory Group LLC raised its stake in shares of Tesla by 2.4% in the 4th quarter. Garrett Wealth Advisory Group LLC now owns 1,401 shares of the electric vehicle producer's stock valued at $566,000 after acquiring an additional 33 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 over the last three months. Insiders own 20.70% of the company's stock.

Tesla Stock Down 0.7%

Tesla stock opened at $323.63 on Monday. The stock has a market cap of $1.04 trillion, a PE ratio of 177.82, a P/E/G ratio of 12.20 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock's fifty day moving average is $314.93 and its two-hundred day moving average is $329.21. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results 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). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus target price of $298.37.

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.

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