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

Loomis Sayles & Co. L P decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 accounts for about 587.7% of Loomis Sayles & Co. L P's portfolio, making the stock its 2nd biggest position. Loomis Sayles & Co. L P owned 0.42% of Tesla worth $5,440,415,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank acquired a new position in shares of Tesla during the third quarter valued at about $287,000. Quantbot Technologies LP bought a new stake in shares of Tesla during the third quarter worth about $687,000. Insight Wealth Partners LLC boosted its stake in Tesla by 4.9% during 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 during the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Tesla by 34.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer's stock worth $13,317,000 after purchasing an additional 12,955 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded down $9.58 during trading hours on Friday, reaching $263.55. The stock had a trading volume of 123,100,723 shares, compared to its average volume of 93,218,015. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a fifty day moving average of $321.33 and a 200 day moving average of $321.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $847.71 billion, a P/E ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Bank of America cut their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley cut their price objective on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Cantor Fitzgerald upgraded shares of Tesla from a "neutral" rating to an "overweight" rating and set a $425.00 target price for the company in a report on Wednesday, March 19th. New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price target on Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a report on Wednesday, March 12th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $318.34.

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.