Chris Bulman Inc Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Chris Bulman Inc raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,750 shares of the electric vehicle producer’s stock after acquiring an additional 50 shares during the quarter. Chris Bulman Inc’s holdings in Tesla were worth $972,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TSLA. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank acquired a new position in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC lifted its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $326.09 on Wednesday. The firm has a market cap of $1.05 trillion, a PE ratio of 159.85, a P/E/G ratio of 5.86 and a beta of 2.47. The firm has a 50 day simple moving average of $293.86 and a 200-day simple moving average of $333.15. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Robert W. Baird restated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research note on Monday. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Guggenheim restated a “sell” rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Finally, Roth Mkm dropped their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $293.67.

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.