Dock Street Asset Management Inc. continued to hold its position in Tesla Motors Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel reports. The firm owned 1,350 shares of the electric vehicle producer’s stock at the end of the second quarter. Dock Street Asset Management Inc.’s holdings in Tesla Motors were worth $287,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Trust Co. of Vermont raised its position in shares of Tesla Motors by 21.6% in the second quarter. Trust Co. of Vermont now owns 535 shares of the electric vehicle producer’s stock worth $114,000 after buying an additional 95 shares in the last quarter. D. Scott Neal Inc. raised its position in shares of Tesla Motors by 21.3% in the second quarter. D. Scott Neal Inc. now owns 570 shares of the electric vehicle producer’s stock worth $121,000 after buying an additional 100 shares in the last quarter. First Manhattan Co. raised its position in shares of Tesla Motors by 9.3% in the second quarter. First Manhattan Co. now owns 588 shares of the electric vehicle producer’s stock worth $124,000 after buying an additional 50 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Tesla Motors during the first quarter worth $184,000. Finally, Moore Capital Management LP raised its position in shares of Tesla Motors by 4,009.1% in the first quarter. Moore Capital Management LP now owns 904 shares of the electric vehicle producer’s stock worth $208,000 after buying an additional 882 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors and hedge funds.
Tesla Motors Inc. (NASDAQ:TSLA) traded up 4.74% during mid-day trading on Monday, reaching $213.70. The company had a trading volume of 5,989,377 shares. The company’s 50 day moving average is $209.82 and its 200 day moving average is $222.47. The stock’s market capitalization is $31.78 billion. Tesla Motors Inc. has a 52-week low of $141.05 and a 52-week high of $269.34.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. The company’s revenue was up 30.5% on a year-over-year basis. Equities analysts predict that Tesla Motors Inc. will post ($0.93) earnings per share for the current year.
TSLA has been the topic of a number of recent analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $338.00 price objective on shares of Tesla Motors in a report on Sunday, September 4th. Pacific Crest reaffirmed a “hold” rating on shares of Tesla Motors in a report on Wednesday, September 28th. Cowen and Company assumed coverage on Tesla Motors in a research report on Thursday, September 8th. They set an “underperform” rating and a $160.00 target price on the stock. Vetr upgraded Tesla Motors from a “hold” rating to a “buy” rating and set a $216.13 target price on the stock in a research report on Tuesday, September 27th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $290.00 target price on shares of Tesla Motors in a research report on Wednesday, June 22nd. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $248.60.
Tesla Motors Company Profile
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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