Menora Mivtachim Holdings LTD. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Menora Mivtachim Holdings LTD. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,254 shares of the electric vehicle producer’s stock after selling 17,592 shares during the period. Tesla comprises 1.3% of Menora Mivtachim Holdings LTD.’s portfolio, making the stock its 24th biggest position. Menora Mivtachim Holdings LTD.’s holdings in Tesla were worth $214,138,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Destination Wealth Management boosted its position in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its stake in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the last quarter. Worth Asset Management LLC lifted its position in Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after acquiring an additional 6,593 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its stake in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC raised its stake in shares of Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after purchasing an additional 29,458 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research note on Thursday. Piper Sandler lowered their target price on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group lowered their price target on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $298.59.

Tesla Price Performance

Tesla stock opened at $251.96 on Friday. The company’s 50 day moving average is $285.19 and its two-hundred day moving average is $323.09. The firm has a market cap of $810.42 billion, a PE ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by insiders.

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.