Rooted Wealth Advisors Inc. Purchases 420 Shares of Tesla, Inc. $TSLA

Rooted Wealth Advisors Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,086 shares of the electric vehicle producer’s stock after buying an additional 420 shares during the quarter. Rooted Wealth Advisors Inc.’s holdings in Tesla were worth $967,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter valued at $27,000. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the period. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $320.00 to $548.00 in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. China Renaissance reiterated a “hold” rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Canaccord Genuity Group boosted their price objective on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $317.70.

Tesla Trading Up 2.2%

NASDAQ TSLA opened at $426.07 on Monday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $340.68 and a 200-day moving average of $308.67. The firm has a market cap of $1.42 trillion, a PE ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% 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.