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

Brookstone Capital Management increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,224 shares of the electric vehicle producer's stock after acquiring an additional 9,497 shares during the period. Brookstone Capital Management's holdings in Tesla were worth $34,786,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Tesla by 28.7% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 4,364 shares of the electric vehicle producer's stock valued at $1,131,000 after acquiring an additional 972 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Tesla by 21.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,903 shares of the electric vehicle producer's stock valued at $3,344,000 after acquiring an additional 2,241 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares in the last quarter. GF Fund Management CO. LTD. raised its stake in shares of Tesla by 1.6% in the first quarter. GF Fund Management CO. LTD. now owns 429,750 shares of the electric vehicle producer's stock valued at $111,374,000 after acquiring an additional 6,790 shares in the last quarter. Finally, Avantax Planning Partners Inc. raised its stake in Tesla by 1.1% in the first quarter. Avantax Planning Partners Inc. now owns 14,614 shares of the electric vehicle producer's stock valued at $3,787,000 after buying an additional 161 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $313.56 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $320.93 and its two-hundred day moving average is $325.92. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The stock has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and raised their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Piper Sandler restated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Oppenheimer restated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $301.24.

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.

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