Noesis Capital Mangement Corp Acquires 35,674 Shares of Tesla, Inc. (NASDAQ:TSLA)

Noesis Capital Mangement Corp grew its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 341.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,130 shares of the electric vehicle producer’s stock after acquiring an additional 35,674 shares during the quarter. Tesla makes up approximately 3.7% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 8th biggest position. Noesis Capital Mangement Corp’s holdings in Tesla were worth $12,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. increased its holdings in Tesla by 196.4% during the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock worth $7,394,330,000 after purchasing an additional 18,472,529 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Tesla by 10.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock valued at $9,584,845,000 after acquiring an additional 1,317,687 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 189.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock valued at $2,484,549,000 after acquiring an additional 6,125,732 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Tesla by 2.5% in the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock valued at $9,455,380,000 after acquiring an additional 216,282 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Tesla by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 5,418,585 shares of the electric vehicle producer’s stock valued at $3,648,999,000 after acquiring an additional 308,731 shares during the last quarter. 43.00% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $133.42 on Friday. The business’s 50-day moving average price is $150.72 and its two-hundred day moving average price is $221.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04. Tesla, Inc. has a one year low of $101.81 and a one year high of $384.29. The company has a market capitalization of $421.31 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 1.06 and a beta of 2.02.

Tesla (NASDAQ:TSLAGet Rating) last issued its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts anticipate that Tesla, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSLA. Morgan Stanley lowered their price target on Tesla from $330.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, December 28th. TheStreet lowered Tesla from a “b-” rating to a “c+” rating in a research report on Tuesday, November 1st. Edward Jones upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Wolfe Research reduced their price target on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $250.00 to $220.00 in a research report on Thursday. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $218.29.

Insider Transactions at Tesla

In other news, CFO Zachary Kirkhorn sold 3,751 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $222.50, for a total transaction of $834,597.50. Following the completion of the sale, the chief financial officer now owns 185,276 shares in the company, valued at approximately $41,223,910. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,751 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $222.50, for a total transaction of $834,597.50. Following the completion of the sale, the chief financial officer now owns 185,276 shares in the company, valued at approximately $41,223,910. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total value of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is owned by corporate insiders.

Tesla Profile

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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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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