Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lifted by Brookstone Capital Management

Brookstone Capital Management increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 42.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,162 shares of the electric vehicle producer’s stock after acquiring an additional 21,210 shares during the quarter. Brookstone Capital Management’s holdings in Tesla were worth $19,529,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lakewood Asset Management LLC acquired a new position in shares of Tesla in the fourth quarter worth $25,000. Alpha Paradigm Partners LLC acquired a new position in Tesla in the 3rd quarter worth about $27,000. GW&K Investment Management LLC purchased a new stake in shares of Tesla during the 1st quarter worth about $30,000. MayTech Global Investments LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $30,000. Finally, St. Johns Investment Management Company LLC grew its stake in shares of Tesla by 451.9% in the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock valued at $31,000 after buying an additional 122 shares in the last quarter. 41.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. UBS Group assumed coverage on Tesla in a report on Tuesday, September 12th. They set a “neutral” rating and a $290.00 target price on the stock. Bank of America upped their target price on Tesla from $225.00 to $300.00 in a research note on Thursday, July 6th. Morgan Stanley upgraded shares of Tesla from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $250.00 to $400.00 in a research report on Sunday, September 10th. Robert W. Baird lifted their price objective on Tesla from $252.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, July 17th. Finally, Wedbush raised their target price on Tesla from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $239.43.

Tesla Stock Down 0.6 %

Tesla stock opened at $274.39 on Monday. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $313.80. The company has a market cap of $870.91 billion, a P/E ratio of 77.73, a price-to-earnings-growth ratio of 4.30 and a beta of 2.09. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $255.83 and a 200 day simple moving average of $220.81.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion for the quarter, compared to analyst estimates of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the sale, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,815 shares of company stock valued at $14,384,135. 25.10% of the stock is owned by company insiders.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.