ETFs Are Buying Tesla (TSLA) on Nov. 4
This article first appeared on GuruFocus.
XLY led ETF activity in Tesla (TSLA) on Wednesday, Nov. 4, as ETFs bought a net $91.1 million of the stock. Fifty-one ETFs were buyers against 15 sellers, with 148 holding steady. The buying followed a net $272.7 million purchase on Nov. 2 and a net $109.0 million purchase on Oct. 30, after net sales of $104.1 million on Oct. 29 and $15.4 million on Nov. 3. The same-direction streak stands at 1 day.
For the full record of ETF and guru buying and selling in TSLA, see the TSLA guru trades page.
Which ETFs bought TSLA on Wednesday?
The largest buyers by dollar value were XLY ($82.6 million), IVV ($30.2 million) and IYC ($18.1 million). In all, 51 ETFs added shares and 15 cut them.
XLY added 214,485 shares, a $82.6 million increase that lifted its stake 2.07% to 10,593,670 shares, or 17.11% of its portfolio. IVV added 78,528 shares for $30.2 million, IYC added 47,012 shares for $18.1 million, SPYM added 39,168 shares for $15.1 million and QQQ added 35,352 shares for $13.6 million. Tesla sits in the Consumer Cyclical sector and Auto Manufacturers industry with a market cap of $1.36 trillion.
Have ETFs been buying or selling TSLA lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does TSLA do?
Tesla designs, develops, manufactures, sells, and leases fully electric vehicles and energy generation and storage systems, with a strategic focus on bringing artificial intelligence into the real world through autonomous driving and robotics.
Tesla’s trailing-12-month revenue was $103.57 billion, up 7.7% over one year, with a gross margin of 19.3% and a net margin of 3.1%. It trades at a P/E of 378.1, a P/B of 15.22 and a P/S of 11.75. Its GF Score is 87, and the GF Value of $353.65 compares with a price of $343.69. The stock’s year-to-date return is -23.58%.