Migdal Insurance & Financial Holdings Ltd. Acquires 73,932 Shares of Tesla, Inc. (NASDAQ:TSLA)

Migdal Insurance & Financial Holdings Ltd. grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1,094.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,687 shares of the electric vehicle producer's stock after purchasing an additional 73,932 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in Tesla were worth $20,913,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. grew its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the 4th quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the company's 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 owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Royal Bank Of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Benchmark restated a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Finally, Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Tuesday, July 8th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $300.19.

Tesla Trading Up 3.2%

TSLA stock traded up $10.32 during mid-day trading on Friday, reaching $329.73. The company had a trading volume of 13,095,793 shares, compared to its average volume of 107,804,727. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a market capitalization of $1.06 trillion, a PE ratio of 181.35, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. The firm has a 50 day moving average of $325.64 and a 200 day moving average of $317.81. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities analysts predict 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.

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