Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,287 shares of the electric vehicle producer’s stock after buying an additional 23,903 shares during the period. Brookstone Capital Management’s holdings in Tesla were worth $27,958,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter worth $25,000. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter worth about $37,000. Guardian Wealth Management Inc. purchased a new position in shares of Tesla during the 4th quarter valued at about $47,000. Kathleen S. Wright Associates Inc. lifted its holdings in shares of 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 buying an additional 100 shares during the period. Finally, Kessler Investment Group LLC grew its holdings in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Trading Up 0.9 %

Shares of TSLA traded up $1.98 during midday trading on Friday, hitting $216.12. 88,620,586 shares of the stock were exchanged, compared to its average volume of 90,901,848. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a fifty day simple moving average of $215.14 and a 200 day simple moving average of $190.97. The firm has a market cap of $690.43 billion, a P/E ratio of 55.13, a P/E/G ratio of 5.22 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TSLA shares. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Glj Research increased their price target on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Tuesday, July 16th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Finally, Citigroup cut their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $204.21.

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.