Brooklyn Investment Group Purchases 1,549 Shares of Tesla, Inc. $TSLA

by · The Markets Daily

Brooklyn Investment Group increased its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,196 shares of the electric vehicle producer’s stock after acquiring an additional 1,549 shares during the quarter. Tesla accounts for about 1.1% of Brooklyn Investment Group’s investment portfolio, making the stock its 14th biggest holding. Brooklyn Investment Group’s holdings in Tesla were worth $4,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter valued at about $27,000. Finally, True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. Piper Sandler restated an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Mizuho lowered their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Roth Mkm lowered their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Guggenheim restated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $303.31.

Check Out Our Latest Research Report on Tesla

Tesla Stock Performance

Shares of TSLA stock opened at $330.56 on Monday. The firm has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 191.08, a price-to-earnings-growth ratio of 11.49 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. The business has a fifty day moving average of $320.41 and a 200 day moving average of $304.57. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 599,724 shares of company stock worth $213,126,501. Insiders own 20.70% of the company’s stock.

Tesla Profile

(Free Report)

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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