Dock Street Asset Management Inc. Buys 1,427 Shares of Tesla, Inc. (NASDAQ:TSLA)

Dock Street Asset Management Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 197.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,149 shares of the electric vehicle producer's stock after purchasing an additional 1,427 shares during the period. Dock Street Asset Management Inc.'s holdings in Tesla were worth $557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rinkey Investments lifted its holdings in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after acquiring an additional 29 shares during the last quarter. Pitti Group Wealth Management LLC boosted its stake in shares of Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after buying an additional 31 shares during the period. True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. Finally, Aldebaran Financial Inc. raised its holdings in Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 3.5%

Shares of TSLA stock traded up $10.89 during mid-day trading on Wednesday, hitting $321.67. 96,688,793 shares of the company's stock were exchanged, compared to its average volume of 99,116,733. The stock has a 50-day simple moving average of $324.04 and a two-hundred day simple moving average of $318.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 176.74, a PEG ratio of 9.26 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the business posted $0.45 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last three months. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price target on shares of Tesla in a report on Tuesday, July 8th. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Barclays reduced their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $303.00 target price on shares of Tesla in a report on Monday, June 30th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $300.19.

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.