D.B. Root & Company LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

D.B. Root & Company LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,526 shares of the electric vehicle producer’s stock after selling 288 shares during the period. D.B. Root & Company LLC’s holdings in Tesla were worth $1,147,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wyrmwood Management LLC bought a new position in Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC lifted its stake in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. grew its position in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 0.2 %

NASDAQ TSLA traded up $0.46 during trading hours on Friday, reaching $197.88. The company had a trading volume of 95,438,068 shares, compared to its average volume of 68,945,696. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $631.08 billion, a P/E ratio of 50.48, a price-to-earnings-growth ratio of 4.91 and a beta of 2.32. The stock has a 50-day moving average of $177.80 and a 200 day moving average of $191.71. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. As a group, research analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, June 20th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a report on Wednesday, April 24th. Canaccord Genuity Group decreased their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $187.30.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock worth $19,285,643 in the last 90 days. Corporate insiders own 25.10% of the company’s stock.

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.