Menora Mivtachim Holdings LTD. Acquires 131,481 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Menora Mivtachim Holdings LTD. increased its holdings in Tesla by 24.8% to a total of 661,735 shares, worth approximately $171.5 million as of its latest SEC filing.
• In recent insider trading, director Kimbal Musk sold 91,588 shares, decreasing his ownership by 5.89%, while Ira Matthew Ehrenpreis sold 477,572 shares, reducing his stake by 35.83%.
• Tesla's stock has faced downward pressure, currently trading at $330.56, and has seen a 1.5% decline with mixed analyst ratings forecasting a consensus price target of $303.31.

Menora Mivtachim Holdings LTD. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 661,735 shares of the electric vehicle producer's stock after purchasing an additional 131,481 shares during the quarter. Menora Mivtachim Holdings LTD.'s holdings in Tesla were worth $171,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla in the 4th quarter worth about $56,600,000. Means Investment CO. Inc. boosted its holdings in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after buying an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Tesla in the 4th quarter worth about $8,158,000. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 over the last ninety days. Insiders own 20.70% of the company's stock.

Tesla Stock Down 1.5%

TSLA stock opened at $330.56 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $320.41 and its 200 day moving average is $305.81. The stock has a market cap of $1.07 trillion, a price-to-earnings ratio of 191.08, a price-to-earnings-growth ratio of 11.67 and a beta of 2.33. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during 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%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $303.31.

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.

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