1,469 Tesla, Inc. $TSLA Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,653 shares of the electric vehicle producer’s stock after buying an additional 1,469 shares during the quarter. Tesla accounts for approximately 0.9% of Migdal Insurance & Financial Holdings Ltd.’s holdings, making the stock its 26th biggest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in Tesla were worth $138,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in Tesla in the 2nd quarter worth $8,535,612,000. Bank of New York Mellon Corp bought a new position in shares of Tesla during the second quarter valued at about $6,083,630,000. Deutsche Bank AG bought a new position in shares of Tesla during the second quarter valued at about $4,039,090,000. Canada Pension Plan Investment Board bought a new position in shares of Tesla during the second quarter valued at about $3,144,509,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Tesla during the second quarter worth about $2,995,584,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSLA shares. Robert W. Baird set a $475.00 target price on Tesla in a research note on Monday, July 27th. Yorkville Ives started coverage on Tesla in a research report on Wednesday, October 7th. They set an “outperform” rating and a $500.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 22nd. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Friday. Finally, Jefferies Financial Group cut Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.51.

Tesla Trading Down 1.8%

Shares of NASDAQ:TSLA traded down $7.23 on Friday, hitting $390.22. The company had a trading volume of 32,239,788 shares, compared to its average volume of 40,913,836. The firm’s 50-day simple moving average is $374.75 and its two-hundred day simple moving average is $383.05. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 428.82, a P/E/G ratio of 24.62 and a beta of 1.74. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 1 year low of $297.38 and a 1 year high of $498.83.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company had revenue of $28.05 billion for the quarter, compared to analysts’ expectations of $28.06 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. Tesla’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

Key Stories Impacting Tesla

Investors following TSLA have been watching these stories:

• Neutral Sentiment: Tesla’s robotaxi and autonomy plans remain a potential growth driver, but regulatory hurdles, costs and the challenge of building a profitable service leave execution uncertain. Article: Is Tesla Stock Worth Buying Now on Robotaxi and FSD Progress?
• Negative Sentiment: The potential merger faces political headwinds: Texas’ attorney general-elect has pledged “tremendous scrutiny,” and another report flags possible Democratic opposition. Added review could delay or complicate a deal. Article: Texas AG-elect vows scrutiny of SpaceX-Tesla merger
• Negative Sentiment: Tesla’s latest quarter showed flat year-over-year revenue, while SpaceX reportedly grew revenue 161%, raising questions about the relative growth and valuation of the businesses in a possible combination. GLJ Research also reaffirmed its sell rating. Article: Tesla and SpaceX Could Announce a Merger as Soon as December

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer directly owned 25,972 shares of the company’s stock, valued at approximately $9,353,296.36. The trade was a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 20.00% of the company’s stock.

About Tesla

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.