Black Diamond Financial LLC Has $284,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Black Diamond Financial LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. May Hill Capital LLC lifted its holdings in Tesla by 17.0% in the 1st quarter. May Hill Capital LLC now owns 2,047 shares of the electric vehicle producer's stock valued at $531,000 after acquiring an additional 298 shares during the last quarter. Sierra Capital LLC increased its holdings in shares of Tesla by 9.9% in the 1st quarter. Sierra Capital LLC now owns 5,434 shares of the electric vehicle producer's stock valued at $1,408,000 after purchasing an additional 488 shares during the period. Navalign LLC increased its holdings in shares of Tesla by 4.8% in the 1st quarter. Navalign LLC now owns 1,125 shares of the electric vehicle producer's stock valued at $292,000 after purchasing an additional 52 shares during the period. Investment Partners LTD. increased its holdings in shares of Tesla by 6.0% in the 1st quarter. Investment Partners LTD. now owns 1,758 shares of the electric vehicle producer's stock valued at $456,000 after purchasing an additional 100 shares during the period. Finally, Highview Capital Management LLC DE increased its holdings in shares of Tesla by 2.6% in the 1st quarter. Highview Capital Management LLC DE now owns 6,013 shares of the electric vehicle producer's stock valued at $1,558,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday. Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $300.19.

Tesla Trading Up 1.2%

Tesla stock traded up $3.64 during mid-day trading on Friday, hitting $313.51. The stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,821,915. The stock has a 50-day simple moving average of $322.60 and a two-hundred day simple moving average of $321.24. The stock has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month 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.

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

Insider Activity

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company's stock.

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.