Yahav Achim Ve Achayot Provident Funds Management Co Ltd. Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Yahav Achim Ve Achayot Provident Funds Management Co Ltd. reduced its stake in Tesla, Inc. by 50%, owning 2,300 shares valued at approximately $596,000 after the sale.
• Several other institutional investors increased their holdings in Tesla, with significant increases noted by Cherry Tree Wealth Management LLC (up 86.3%) and Newton One Investments LLC (up 250%) during the same quarter.
• Tesla's stock has received mixed ratings from analysts, with a current consensus rating of "Hold" and an average price target of $303.31.

Yahav Achim Ve Achayot Provident Funds Management Co Ltd. lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 50.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,300 shares of the electric vehicle producer's stock after selling 2,300 shares during the quarter. Tesla accounts for approximately 2.4% of Yahav Achim Ve Achayot Provident Funds Management Co Ltd.'s portfolio, making the stock its 16th biggest position. Yahav Achim Ve Achayot Provident Funds Management Co Ltd.'s holdings in Tesla were worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC raised its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSLA shares. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday. Finally, William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Ten investment 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 company's stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $303.31.

Tesla Trading Up 0.7%

Shares of TSLA stock opened at $322.27 on Friday. The business's fifty day moving average price is $319.07 and its 200 day moving average price is $308.84. The firm has a market capitalization of $1.04 trillion, a PE ratio of 186.28, a P/E/G ratio of 11.24 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $192.04 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by corporate insiders.

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.

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