Tesla, Inc. (NASDAQ:TSLA) is Loomis Sayles & Co. L P’s 2nd Largest Position

Loomis Sayles & Co. L P trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 16.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,471,709 shares of the electric vehicle producer’s stock after selling 2,650,229 shares during the period. Tesla makes up approximately 587.7% of Loomis Sayles & Co. L P’s portfolio, making the stock its 2nd largest holding. Loomis Sayles & Co. L P’s holdings in Tesla were worth $5,440,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank purchased a new stake in shares of Tesla during the 3rd quarter worth $287,000. Quantbot Technologies LP acquired a new position in shares of Tesla during the 3rd quarter worth $687,000. Insight Wealth Partners LLC increased its holdings in shares of Tesla by 4.9% in the 3rd quarter. Insight Wealth Partners LLC now owns 1,441 shares of the electric vehicle producer’s stock valued at $377,000 after purchasing an additional 67 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Tesla by 34.1% during the third quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after buying an additional 12,955 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Barclays boosted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $318.93.

Tesla Price Performance

TSLA stock opened at $272.06 on Thursday. The company has a market cap of $875.09 billion, a PE ratio of 133.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $327.40 and a two-hundred day moving average price of $321.69. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its 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%. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.