Bosun Asset Management LLC Boosts Position in Tesla, Inc. $TSLA

Key Points

• Bosun Asset Management LLC significantly increased its holdings in Tesla, rising by 498.6% in the first quarter, now owning 7,039 shares valued at approximately $1.82 million.
• Other institutional investors have also boosted their positions in Tesla, with Goldman Sachs increasing its holdings by 322.1%, adding to a trend of strong institutional interest in the stock.
• Insider trading activity reveals that Director James R. Murdoch sold 120,000 shares, while CFO Vaibhav Taneja sold 2,000 shares, showing a 14.69% and 25.24% decrease in their respective positions.

Bosun Asset Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 498.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,039 shares of the electric vehicle producer's stock after buying an additional 5,863 shares during the quarter. Tesla accounts for 0.8% of Bosun Asset Management LLC's portfolio, making the stock its 20th largest position. Bosun Asset Management LLC's holdings in Tesla were worth $1,824,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TSLA. Vanguard Group Inc. increased its holdings in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after acquiring an additional 158,697 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Finally, Amundi raised its position in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,564 shares of company stock valued at $49,396,070. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Up 1.4%

NASDAQ TSLA opened at $334.09 on Thursday. The company has a market capitalization of $1.08 trillion, a P/E ratio of 193.12, a PEG ratio of 11.61 and a beta of 2.06. Tesla, Inc. has a 12 month low of $210.51 and a 12 month high of $488.54. 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 company's 50 day simple moving average is $323.20 and its 200 day simple moving average is $302.79.

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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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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