Diversified LLC Has $477,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Diversified LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 74.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,412 shares of the electric vehicle producer’s stock after buying an additional 1,026 shares during the period. Diversified LLC’s holdings in Tesla were worth $477,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Cornerstone Wealth Group LLC boosted its stake in Tesla by 17.4% during the second quarter. Cornerstone Wealth Group LLC now owns 8,495 shares of the electric vehicle producer’s stock worth $1,681,000 after buying an additional 1,257 shares in the last quarter. JB Capital LLC boosted its position in shares of Tesla by 14.9% during the 2nd quarter. JB Capital LLC now owns 4,787 shares of the electric vehicle producer’s stock valued at $947,000 after acquiring an additional 622 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. bought a new stake in Tesla in the second quarter valued at about $238,000. My Legacy Advisors LLC bought a new stake in Tesla in the second quarter valued at about $926,000. Finally, Once Capital Management LLC raised its position in Tesla by 64.1% in the second quarter. Once Capital Management LLC now owns 19,200 shares of the electric vehicle producer’s stock worth $3,799,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TSLA shares. Royal Bank of Canada cut their price objective on Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research report on Monday. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $204.21.

Tesla Stock Up 4.6 %

NASDAQ:TSLA traded up $9.66 on Friday, hitting $220.32. 81,303,680 shares of the company’s stock were exchanged, compared to its average volume of 98,612,938. The company has a market cap of $702.64 billion, a P/E ratio of 56.20, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31. The firm has a 50-day moving average price of $219.46 and a 200-day moving average price of $192.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% 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.