Black Diamond Financial LLC Sells 1,317 Shares of Tesla, Inc. (NASDAQ:TSLA)

Black Diamond Financial LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 54.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,097 shares of the electric vehicle producer's stock after selling 1,317 shares during the quarter. Black Diamond Financial LLC's holdings in Tesla were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Rinkey Investments raised its stake in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares during the period. Bell Investment Advisors Inc increased its holdings in shares of Tesla by 1.3% during the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock worth $945,000 after acquiring an additional 30 shares during the last quarter. Pitti Group Wealth Management LLC raised its stake in Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after acquiring an additional 31 shares during the period. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.3%

NASDAQ:TSLA traded up $3.87 during mid-day trading on Tuesday, hitting $297.81. 102,672,162 shares of the company's stock were exchanged, compared to its average volume of 101,051,430. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $959.23 billion, a P/E ratio of 163.63, a PEG ratio of 9.17 and a beta of 2.39. The company has a 50 day simple moving average of $321.10 and a 200-day simple moving average of $323.46.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on TSLA. Mizuho cut their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. HSBC reissued a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Finally, Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $301.13.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 829,509 shares of company stock worth $277,648,925. Corporate insiders own 20.70% of the company's stock.

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.