Y.D. More Investments Sells Tesla Shares; Analysts Adjust Ratings

Y.D. More Investments Ltd has reduced its stake in Tesla, Inc. (NASDAQ: TSLA) by 1.3%, according to its latest Form 13F filing with the Securities and Exchange Commission. The investment firm sold 127 shares during the second quarter, bringing its total holdings to 9,771 shares, valued at approximately $2,959,000.

This adjustment in Y.D. More Investments’ portfolio reflects a broader trend among institutional investors regarding Tesla, which has been a focal point in the electric vehicle market. Goldman Sachs Group Inc. significantly increased its stake in Tesla by an impressive 322.1% during the first quarter, now owning 26,590,525 shares valued at around $6.89 billion after acquiring an additional 20,291,139 shares. Similarly, Nuveen LLC entered a new position in Tesla, investing roughly $3.25 billion.

Other notable movements include Kingstone Capital Partners Texas LLC, which dramatically lifted its position by 581,880.5% in the second quarter, now holding 6,436,704 shares worth about $2.04 billion. Amundi also boosted its stake by 29.4% in the first quarter, owning 16,771,882 shares valued at $4.48 billion. Vanguard Group Inc. increased its holdings by 1.5%, now holding 246,887,705 shares valued at approximately $63.98 billion. Currently, institutional investors and hedge funds collectively own 66.20% of Tesla’s stock.

Stock Performance and Analyst Ratings

As of the latest trading session, Tesla’s stock opened at $404.35. Over the past year, it has seen a low of $214.25 and a high of $488.54. The company boasts a market capitalization of $1.34 trillion, a price-to-earnings ratio of 269.57, and a beta of 2.06. Analysts have recently adjusted their price targets for Tesla, reflecting mixed sentiments on the stock’s performance.

In a recent report, China Renaissance increased its target price for Tesla from $349.00 to $380.00, maintaining a “hold” rating. Similarly, Deutsche Bank Aktiengesellschaft raised its price target from $440.00 to $470.00, affirming a “buy” rating. In contrast, several analysts have given Tesla a “hold” rating, with an average consensus price target of $393.61.

Insider Transactions

In addition to institutional trading, insider trading activity has also been notable. Tesla’s Chief Financial Officer, Vaibhav Taneja, sold 2,606 shares on September 8, valued at approximately $918,302.28. Following this sale, Taneja holds 9,856 shares, worth about $3.47 million, reflecting a 20.91% decrease in his ownership.

Director James R. Murdoch sold 120,000 shares on August 26 for a total of $42,034,800.00. After this transaction, he retains 697,031 shares valued at approximately $244.16 million, marking a 14.69% decline in his stake. Over the past ninety days, insiders have sold a total of 202,606 shares valued at nearly $75.59 million, with insiders collectively holding 19.90% of the company’s stock.

Tesla, Inc. is engaged in the design, development, manufacture, lease, and sale of electric vehicles and energy generation and storage systems, operating globally including in the United States and China. The company is divided into two main segments: Automotive and Energy Generation and Storage, providing a comprehensive range of products and services in the growing electric vehicle sector.