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

Brookstone Capital Management boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,834 shares of the electric vehicle producer’s stock after acquiring an additional 3,547 shares during the quarter. Brookstone Capital Management’s holdings in Tesla were worth $37,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Artemis Investment Management LLP acquired a new position in shares of Tesla during the third quarter worth about $23,559,000. Sugarloaf Wealth Management LLC lifted its stake in shares of Tesla by 10.7% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,574 shares of the electric vehicle producer’s stock worth $673,000 after purchasing an additional 248 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Tesla by 4.0% during the third quarter. Atomi Financial Group Inc. now owns 24,834 shares of the electric vehicle producer’s stock worth $6,497,000 after purchasing an additional 962 shares in the last quarter. Traveka Wealth LLC lifted its stake in shares of Tesla by 13.2% during the third quarter. Traveka Wealth LLC now owns 2,676 shares of the electric vehicle producer’s stock worth $700,000 after purchasing an additional 312 shares in the last quarter. Finally, Clean Yield Group increased its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $244.50 on Wednesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The stock’s 50-day moving average is $224.18 and its two-hundred day moving average is $202.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market cap of $781.09 billion, a P/E ratio of 62.37, a price-to-earnings-growth ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last three months. 25.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Royal Bank of Canada increased their price target on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday. Stifel Nicolaus began coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $210.90.

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.