Noesis Capital Mangement Corp Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Noesis Capital Mangement Corp lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 31,334 shares of the electric vehicle producer's stock after selling 2,181 shares during the period. Tesla makes up 1.6% of Noesis Capital Mangement Corp's portfolio, making the stock its 26th largest holding. Noesis Capital Mangement Corp's holdings in Tesla were worth $8,121,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter valued at approximately $27,000. Finally, True Wealth Design LLC lifted its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 3.5%

Shares of TSLA traded up $10.76 during trading hours on Friday, reaching $316.06. 147,437,834 shares of the stock traded hands, compared to its average volume of 90,285,424. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $324.70 and a 200 day simple moving average of $314.09. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TSLA shares. Bank of America increased their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Royal Bank Of Canada dropped their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday, July 22nd. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $302.75.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last three months. Insiders own 20.70% of the company's stock.

Tesla Profile

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.