Diligent Investors LLC Has $2.10 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Diligent Investors LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,096 shares of the electric vehicle producer’s stock after buying an additional 1,099 shares during the period. Diligent Investors LLC’s holdings in Tesla were worth $2,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC boosted its position in Tesla by 79.5% during the fourth 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. 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 valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla during the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla during the fourth quarter valued at approximately $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 870,721 shares of company stock valued at $286,248,728. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TSLA shares. Argus set a $410.00 price target on Tesla in a research report on Thursday, April 24th. Robert W. Baird cut their price objective on Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Roth Mkm cut their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $293.97.

Tesla Trading Down 3.5%

Shares of TSLA opened at $332.05 on Thursday. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The business’s fifty day moving average is $291.12 and its 200-day moving average is $334.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 162.77, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.