BSN CAPITAL PARTNERS Ltd Decreases Stake in Tesla, Inc. $TSLA

Key Points

• BSN CAPITAL PARTNERS Ltd reduced its stake in Tesla by 23.2%, selling 162,945 shares, and now holds 538,000 shares, representing about 6.8% of its total portfolio.
• Tesla's latest quarterly earnings showed an EPS of $0.40, missing estimates, with the company reporting a revenue of $22.50 billion, down 11.8% year-over-year.
• Institutional investors now own 66.20% of Tesla's stock, with various firms like Vanguard and Goldman Sachs increasing their holdings significantly during recent quarters.

BSN CAPITAL PARTNERS Ltd lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 538,000 shares of the electric vehicle producer's stock after selling 162,945 shares during the period. Tesla makes up about 6.8% of BSN CAPITAL PARTNERS Ltd's holdings, making the stock its 6th biggest position. BSN CAPITAL PARTNERS Ltd's holdings in Tesla were worth $139,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Northern Trust Corp grew its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Tesla by 322.1% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 buying an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 worth $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $335.16 on Tuesday. The firm's 50-day moving average price is $320.95 and its 200-day moving average price is $304.09. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.08 trillion, a PE ratio of 193.73, a PEG ratio of 11.49 and a beta of 2.33. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on TSLA shares. Benchmark reissued a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Bank of America upped their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by corporate insiders.

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.

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