Brookstone Capital Management Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Brookstone Capital Management increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 42.5% during the second quarter, HoldingsChannel reports. The institutional investor 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 reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Lakewood Asset Management LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla in the third quarter valued at approximately $27,000. GW&K Investment Management LLC bought a new stake in Tesla during the first quarter valued at approximately $30,000. MayTech Global Investments LLC purchased a new position in Tesla in the 4th quarter worth approximately $30,000. Finally, St. Johns Investment Management Company LLC increased its holdings 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 worth $31,000 after buying an additional 122 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. UBS Group initiated coverage on shares of Tesla in a report on Tuesday, September 12th. They set a “neutral” rating and a $290.00 price objective for the company. Robert W. Baird raised 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. TD Cowen upped their target price on Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 20th. Barclays downgraded shares of Tesla from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $260.00 in a research note on Wednesday, June 21st. Finally, Jefferies Financial Group upped their price objective on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, July 10th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $239.43.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $274.39 on Monday. The company has a 50 day simple moving average of $255.83 and a two-hundred day simple moving average of $220.81. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $313.80. The company has a market capitalization of $870.91 billion, a price-to-earnings ratio of 77.73, a P/E/G ratio of 4.30 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59.

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

Insider Activity

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

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. 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.