Brooklyn Investment Group Increases Holdings in Tesla, Inc. $TSLA

Key Points

• Brooklyn Investment Group increased its holdings in Tesla by 8.8% in Q1, now owning a total of 19,196 shares valued at approximately $4.98 million.
• Insiders sold a total of 599,724 shares of Tesla stock valued at over $213 million in the last three months, significantly reducing their positions.
• Tesla reported Q2 earnings of $0.40 per share, missing the analysts' estimates, and had quarterly revenue of $22.50 billion, which was also below projections.

Brooklyn Investment Group grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,196 shares of the electric vehicle producer's stock after buying an additional 1,549 shares during the period. Tesla accounts for 1.1% of Brooklyn Investment Group's investment portfolio, making the stock its 14th largest position. Brooklyn Investment Group's holdings in Tesla were worth $4,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC purchased a new position in shares of Tesla in the fourth quarter worth about $331,000. Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in shares of Tesla in the fourth quarter worth $2,367,000. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock worth $213,126,501 in the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TSLA shares. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Canaccord Genuity Group upped their price objective on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $303.31.

Tesla Trading Down 1.7%

TSLA traded down $5.85 during midday trading on Tuesday, reaching $329.31. 75,432,692 shares of the company's stock traded hands, compared to its average volume of 88,331,408. The firm has a fifty day moving average of $320.95 and a two-hundred day moving average of $304.09. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company Profile

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.