12,269 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Stonekeep Investments LLC

Stonekeep Investments LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,269 shares of the electric vehicle producer’s stock, valued at approximately $2,428,000. Tesla accounts for approximately 2.0% of Stonekeep Investments LLC’s portfolio, making the stock its 13th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter valued at $25,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the fourth quarter valued at about $37,000. Kessler Investment Group LLC lifted its stake in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Aspect Partners LLC grew its position in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Tesla during the second quarter valued at about $42,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. Mizuho lifted their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Canaccord Genuity Group upped their target price on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, HSBC raised their price target on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Nine research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $204.21.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Down 8.4 %

Shares of NASDAQ:TSLA opened at $210.73 on Monday. The company has a 50 day moving average of $224.47 and a 200-day moving average of $193.59. The stock has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a P/E/G ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current 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.