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

Meitav Investment House Ltd. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 59.8% in the 2nd quarter, Holdings Channel reports. The firm owned 3,125 shares of the electric vehicle producer’s stock after selling 4,650 shares during the period. 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 modified their holdings of the company. Tcfg Wealth Management LLC lifted its position in shares of Tesla by 51.0% during the 2nd quarter. Tcfg Wealth Management LLC now owns 4,050 shares of the electric vehicle producer’s stock worth $1,286,000 after buying an additional 1,367 shares during the last quarter. Country Club Bank raised its stake in Tesla by 0.7% during the second quarter. Country Club Bank now owns 10,540 shares of the electric vehicle producer’s stock worth $3,411,000 after acquiring an additional 69 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of Tesla by 5.1% in the second quarter. Trueblood Wealth Management LLC now owns 2,055 shares of the electric vehicle producer’s stock worth $653,000 after acquiring an additional 100 shares during the last quarter. Seamount Financial Group Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at approximately $319,000. Finally, Viewpoint Capital Management LLC grew its holdings in shares of Tesla by 1.0% during the 2nd quarter. Viewpoint Capital Management LLC now owns 18,613 shares of the electric vehicle producer’s stock valued at $5,912,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. HSBC raised their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. The Goldman Sachs Group increased their target price on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a report on Saturday, September 27th. Finally, Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $344.40.

Tesla Stock Down 4.4%

Shares of NASDAQ TSLA opened at $433.09 on Wednesday. The company’s 50 day moving average price is $368.81 and its 200-day moving average price is $324.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a market capitalization 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.

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

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

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.