Dock Street Asset Management Inc. Buys 68 Shares of Tesla, Inc. $TSLA

Dock Street Asset Management Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,217 shares of the electric vehicle producer’s stock after acquiring an additional 68 shares during the period. Dock Street Asset Management Inc.’s holdings in Tesla were worth $704,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Merchants Corp grew its stake in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares in the last quarter. KWB Wealth grew its stake in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its stake in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. grew its stake in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares in the last quarter. Finally, Acorn Creek Capital LLC grew its stake in Tesla by 1.6% in the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock worth $697,000 after buying an additional 34 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 1.4%

Shares of TSLA opened at $435.15 on Thursday. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 251.53, a PEG ratio of 15.47 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $383.21 and a two-hundred day simple moving average of $330.90. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

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

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TSLA shares. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. UBS Group set a $247.00 price objective on shares of Tesla in a research note on Monday, October 6th. China Renaissance reaffirmed a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $363.03.

Tesla Company 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.