D.B. Root & Company LLC Acquires 41 Shares of Tesla, Inc. (NASDAQ:TSLA)

D.B. Root & Company LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,135 shares of the electric vehicle producer’s stock after purchasing an additional 41 shares during the period. D.B. Root & Company LLC’s holdings in Tesla were worth $1,670,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares during the last quarter. FMR LLC boosted its stake in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after acquiring an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock valued at $212,451,751 over the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of Tesla stock opened at $406.58 on Friday. The stock has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a fifty day moving average of $398.82 and a 200-day moving average of $294.03. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Equities research analysts expect that Tesla, Inc. will post 2.01 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. UBS Group upped their price objective on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Cantor Fitzgerald lifted their price target on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $313.84.

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.