MY.Alpha Management HK Advisors Ltd Acquires Shares of 20,816 Tesla, Inc. (NASDAQ:TSLA)

MY.Alpha Management HK Advisors Ltd bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,816 shares of the electric vehicle producer’s stock, valued at approximately $8,406,000. Tesla makes up approximately 3.7% of MY.Alpha Management HK Advisors Ltd’s investment portfolio, making the stock its 12th largest position.

Several other hedge funds have also recently modified their holdings of TSLA. Horrell Capital Management Inc. grew its holdings 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 in the last quarter. GS Investments Inc. raised its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in Tesla in the 4th quarter worth approximately $37,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the 4th quarter worth approximately $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $287.46.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock worth $115,600,501 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $334.07 on Wednesday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $1.08 trillion, a PE ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The business’s fifty day moving average price is $260.85 and its 200 day moving average price is $328.28.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.