Black Diamond Financial LLC Sells 332 Shares of Tesla, Inc. (NASDAQ:TSLA)

Black Diamond Financial LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,414 shares of the electric vehicle producer’s stock after selling 332 shares during the quarter. Black Diamond Financial LLC’s holdings in Tesla were worth $975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla in the 4th quarter valued at $46,000. PayPay Securities Corp raised its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $302.80 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $973.96 billion, a price-to-earnings ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s 50-day moving average is $393.98 and its 200-day moving average is $315.69. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Wedbush set a $328.50 price objective on shares of Tesla in a research report on Wednesday, February 12th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Evercore ISI boosted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, UBS Group boosted their target price on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $319.57.

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.