Stonebrook Private Inc. Has $737,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Stonebrook Private Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 28.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,816 shares of the electric vehicle producer’s stock after buying an additional 618 shares during the period. Stonebrook Private Inc.’s holdings in Tesla were worth $737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Covenant Asset Management LLC increased its stake in shares of Tesla by 14.7% during the 3rd quarter. Covenant Asset Management LLC now owns 1,288 shares of the electric vehicle producer’s stock worth $337,000 after purchasing an additional 165 shares during the last quarter. Allen Capital Group LLC increased its stake in shares of Tesla by 31.9% during the 3rd quarter. Allen Capital Group LLC now owns 4,130 shares of the electric vehicle producer’s stock worth $1,081,000 after purchasing an additional 1,000 shares during the last quarter. CFS Investment Advisory Services LLC increased its stake in shares of Tesla by 1.2% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 5,612 shares of the electric vehicle producer’s stock worth $1,468,000 after purchasing an additional 68 shares during the last quarter. First County Bank CT increased its stake in shares of Tesla by 6.2% during the 3rd quarter. First County Bank CT now owns 3,051 shares of the electric vehicle producer’s stock worth $798,000 after purchasing an additional 177 shares during the last quarter. Finally, Concorde Asset Management LLC increased its stake in shares of Tesla by 2.1% during the 3rd quarter. Concorde Asset Management LLC now owns 3,193 shares of the electric vehicle producer’s stock worth $835,000 after purchasing an additional 67 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Piper Sandler lifted their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Trading Up 3.8 %

TSLA opened at $352.56 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.53. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $264.07 and a 200-day moving average of $226.09. The stock has a market cap of $1.13 trillion, a PE ratio of 96.59, a price-to-earnings-growth ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Tesla 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.