Exchange-traded funds bought a net $91.1 million of Tesla (TSLA) stock on Wednesday, Nov. 4. The Consumer Discretionary Select Sector SPDR Fund (XLY) led the buying, adding 214,485 shares worth $82.6 million and lifting its stake to 10,593,670 shares, or 17.11 percent of its portfolio.
Fifty-one ETFs were net buyers of Tesla, while 15 were sellers and 148 held steady. Other significant buyers included the iShares Core S&P 500 ETF (IVV), which added 78,528 shares for $30.2 million, and the iShares U.S. Consumer Discretionary ETF (IYC), which purchased 47,012 shares for $18.1 million.
The single-day buying streak on Nov. 4 followed a net sale of $15.4 million on Nov. 3. Over the five prior trading days, ETFs were net buyers on three days and net sellers on two, indicating recent accumulation.
Tesla trades at a market capitalization of $1.36 trillion and a price-to-earnings ratio of 378.1. The company's GF Value estimate of $353.65 compares with a current trading price of $343.69, suggesting the stock is trading slightly below estimated fair value. Year-to-date performance stands at -23.58 percent.
For the trailing-12-month period, Tesla reported revenue of $103.57 billion, a 7.7 percent increase over one year, with a gross margin of 19.3 percent and a net margin of 3.1 percent.
Broader ETF activity on Nov. 4 showed technology sector leadership in buying, while the energy sector experienced net sales. Oracle (ORCL) recorded the largest single-stock ETF buying activity at $1.34 billion in net purchases. Amazon (AMZN) saw $105.1 million in net buying, and Goldman Sachs (GS) experienced $108.5 million in net ETF purchases.
