Black Diamond Financial LLC Purchases 465 Shares of Tesla, Inc. (NASDAQ:TSLA)

Black Diamond Financial LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 16.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,258 shares of the electric vehicle producer’s stock after purchasing an additional 465 shares during the quarter. Black Diamond Financial LLC’s holdings in Tesla were worth $645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integris Wealth Management LLC raised its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Echo Wealth Management LLC raised its stake in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its position in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the last quarter. Bellevue Asset Management LLC lifted its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group grew its stake in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TSLA shares. Barclays dropped their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. KGI Securities reissued a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. HSBC upped their target price on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price target on shares of Tesla in a research note on Friday. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Trading Up 0.2 %

NASDAQ TSLA opened at $230.29 on Monday. The firm has a market capitalization of $734.44 billion, a PE ratio of 58.75, a P/E/G ratio of 6.08 and a beta of 2.29. The stock’s 50 day moving average is $223.37 and its 200 day moving average is $194.57. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.