Dock Street Asset Management Inc. Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Dock Street Asset Management Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,283 shares of the electric vehicle producer’s stock after buying an additional 910 shares during the period. Tesla accounts for about 5.6% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Dock Street Asset Management Inc.’s holdings in Tesla were worth $35,851,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Peterson Wealth Services bought a new stake in shares of Tesla during the fourth quarter valued at approximately $11,711,000. Roman Butler Fullerton & Co. increased its stake in shares of Tesla by 6.3% during the fourth quarter. Roman Butler Fullerton & Co. now owns 1,397 shares of the electric vehicle producer’s stock valued at $347,000 after acquiring an additional 83 shares during the period. Waterfront Wealth Inc. increased its stake in shares of Tesla by 2.2% during the fourth quarter. Waterfront Wealth Inc. now owns 3,867 shares of the electric vehicle producer’s stock valued at $961,000 after acquiring an additional 84 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Tesla by 5.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 55,894 shares of the electric vehicle producer’s stock valued at $13,889,000 after acquiring an additional 2,679 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Tesla by 29.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 578,059 shares of the electric vehicle producer’s stock valued at $143,636,000 after acquiring an additional 130,237 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TSLA shares. Royal Bank of Canada restated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. HSBC decreased their price target on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 3rd. KGI Securities reiterated a “neutral” rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group lowered their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $194.70.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, 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 valued at $38,802,534 over the last quarter. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $5.36 on Thursday, hitting $150.09. 53,859,129 shares of the company were exchanged, compared to its average volume of 101,225,563. The company’s 50 day moving average price is $180.24 and its two-hundred day moving average price is $212.64. Tesla, Inc. has a one year low of $148.70 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm has a market capitalization of $478.01 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.15 and a beta of 2.39.

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

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.