Meitav Investment House Ltd. Sells 4,650 Shares of Tesla, Inc. $TSLA

Meitav Investment House Ltd. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 59.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,125 shares of the electric vehicle producer’s stock after selling 4,650 shares during the quarter. Meitav Investment House Ltd.’s holdings in Tesla were worth $993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tesla in the first quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its position in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Amundi grew its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $433.09 on Wednesday. The firm has a market cap of $1.44 trillion, a P/E ratio of 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08. The business’s 50 day moving average is $368.81 and its 200-day moving average is $324.77. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a research note on Friday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $355.00 target price on shares of Tesla in a research note on Friday, October 3rd. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell 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 $344.40.

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.