Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 144,283 shares of the electric vehicle producer’s stock after buying an additional 910 shares during the quarter. Tesla accounts for approximately 5.6% of Dock Street Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Dock Street Asset Management Inc.’s holdings in Tesla were worth $35,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wyrmwood Management LLC purchased a new stake in Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. purchased a new stake in Tesla during the fourth quarter valued at about $25,000. Alpha Paradigm Partners LLC purchased a new stake in Tesla during the third quarter valued at about $27,000. MayTech Global Investments LLC purchased a new stake in Tesla during the fourth quarter valued at about $30,000. Finally, Perkins Coie Trust Co lifted its holdings in Tesla by 72.0% during the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Down 3.4 %

Shares of TSLA stock traded down $5.36 during mid-day trading on Thursday, reaching $150.09. 53,859,129 shares of the company’s stock traded hands, compared to its average volume of 101,225,563. Tesla, Inc. has a 12 month low of $148.70 and a 12 month high of $299.29. The company has a market cap of $478.01 billion, a P/E ratio of 35.25, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $180.24 and its 200-day moving average price is $212.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TSLA. Sanford C. Bernstein dropped their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Tesla from a “buy” rating to a “hold” rating and lowered their price target for the stock from $189.00 to $123.00 in a report on Thursday. Wedbush lowered their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Redburn Atlantic began coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Finally, HSBC lowered their price target on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $194.70.

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.