Tesla, Inc. (NASDAQ:TSLA) Shares Sold by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,808 shares of the electric vehicle producer’s stock after selling 174 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Tesla were worth $1,134,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Axxcess Wealth Management LLC raised its stake in shares of Tesla by 2.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 59,495 shares of the electric vehicle producer’s stock worth $24,026,000 after buying an additional 1,623 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in Tesla by 20.7% in the 4th quarter. Tocqueville Asset Management L.P. now owns 1,137 shares of the electric vehicle producer’s stock valued at $459,000 after purchasing an additional 195 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in Tesla in the 4th quarter valued at approximately $444,000. 1ST Source Bank increased its stake in Tesla by 5.6% in the 4th quarter. 1ST Source Bank now owns 1,042 shares of the electric vehicle producer’s stock valued at $421,000 after purchasing an additional 55 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its stake in Tesla by 31.9% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 794 shares of the electric vehicle producer’s stock valued at $321,000 after purchasing an additional 192 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Barclays raised their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Robert W. Baird dropped their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $323.00.

Tesla Trading Down 4.8 %

Shares of TSLA opened at $238.01 on Tuesday. The stock’s 50-day moving average is $347.85 and its two-hundred day moving average is $320.53. The stock has a market cap of $765.56 billion, a PE ratio of 116.67, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 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 forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.