Brookstone Capital Management Sells 1,395 Shares of Tesla, Inc. (NASDAQ:TSLA)

Brookstone Capital Management reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,048 shares of the electric vehicle producer’s stock after selling 1,395 shares during the quarter. Brookstone Capital Management’s holdings in Tesla were worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC raised its holdings in Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after purchasing an additional 164,789 shares in the last quarter. MAS Advisors LLC raised its holdings in Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares in the last quarter. Ergoteles LLC raised its holdings in Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares in the last quarter. 43.00% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other news, CAO Vaibhav Taneja sold 2,466 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total value of $482,818.14. Following the transaction, the chief accounting officer now owns 100,458 shares in the company, valued at approximately $19,668,671.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, CAO Vaibhav Taneja sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $482,818.14. Following the sale, the chief accounting officer now owns 100,458 shares in the company, valued at approximately $19,668,671.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 1,298 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $195.79, for a total transaction of $254,135.42. Following the sale, the senior vice president now owns 65,547 shares in the company, valued at approximately $12,833,447.13. The disclosure for this sale can be found here. Insiders have sold 53,221 shares of company stock worth $8,988,542 in the last quarter. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TSLA shares. Edward Jones upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Bank of America upped their price objective on shares of Tesla from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Evercore ISI reduced their target price on shares of Tesla from $300.00 to $200.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, March 2nd. Finally, Oppenheimer downgraded shares of Tesla from an “outperform” rating to a “market perform” rating in a research report on Monday, December 19th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $221.39.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $180.13 on Friday. The firm’s 50-day moving average price is $175.38 and its 200-day moving average price is $197.07. The company has a quick ratio of 1.05, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The company has a market cap of $569.95 billion, a PE ratio of 49.71, a PEG ratio of 2.19 and a beta of 2.06. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29.

Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.21. Tesla had a net margin of 15.41% and a return on equity of 31.71%. The firm had revenue of $24.32 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up 37.2% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 3.43 EPS for the current year.

Tesla Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.