Loomis Sayles & Co. L P Has $4.22 Billion Position in Tesla, Inc. (NASDAQ:TSLA)

Loomis Sayles & Co. L P cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,121,938 shares of the electric vehicle producer’s stock after selling 214,342 shares during the quarter. Tesla makes up approximately 5.5% of Loomis Sayles & Co. L P’s holdings, making the stock its 3rd largest holding. Loomis Sayles & Co. L P owned about 0.50% of Tesla worth $4,217,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. China Universal Asset Management Co. Ltd. increased its position in shares of Tesla by 0.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after buying an additional 331 shares during the period. 1832 Asset Management L.P. raised its position in shares of Tesla by 23.5% in the 1st quarter. 1832 Asset Management L.P. now owns 8,760 shares of the electric vehicle producer’s stock worth $1,540,000 after acquiring an additional 1,669 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Tesla by 26.0% in the 1st quarter. Earnest Partners LLC now owns 1,395 shares of the electric vehicle producer’s stock valued at $245,000 after purchasing an additional 288 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Tesla by 69.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 55,245 shares of the electric vehicle producer’s stock valued at $9,712,000 after purchasing an additional 22,624 shares in the last quarter. Finally, Waverly Advisors LLC grew its stake in Tesla by 55.6% in the first quarter. Waverly Advisors LLC now owns 14,291 shares of the electric vehicle producer’s stock worth $2,512,000 after purchasing an additional 5,107 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $352.56 on Monday. The stock has a 50-day simple moving average of $264.07 and a two-hundred day simple moving average of $226.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.53. The firm has a market capitalization of $1.13 trillion, a PE ratio of 96.59, a P/E/G ratio of 11.45 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Finally, HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $230.18.

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.