Migdal Insurance & Financial Holdings Ltd. Sells 86,377 Shares of Tesla, Inc. (NASDAQ:TSLA)

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 95.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,925 shares of the electric vehicle producer’s stock after selling 86,377 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Tesla were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wyrmwood Management LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC bought a new position in shares of Tesla in the 3rd quarter worth $27,000. MayTech Global Investments LLC purchased a new stake in shares of Tesla during the 4th quarter valued at $30,000. Finally, Perkins Coie Trust Co raised its position in shares of Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 1.1 %

Shares of Tesla stock opened at $155.45 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The company has a market cap of $495.08 billion, a P/E ratio of 36.07, a PEG ratio of 4.15 and a beta of 2.39. The company’s fifty day simple moving average is $180.24 and its two-hundred day simple moving average is $212.64.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. Research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research note on Wednesday. HSBC cut their price objective on Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a report on Wednesday, April 3rd. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. TD Cowen cut their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $194.70.

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.