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 4th quarter, Holdings Channel reports. The fund bought 20,816 shares of the electric vehicle producer’s stock, valued at approximately $8,406,000. Tesla makes up 3.7% of MY.Alpha Management HK Advisors Ltd’s holdings, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV increased its stake in shares of Tesla by 6.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 551,768 shares of the electric vehicle producer’s stock worth $238,176,000 after acquiring an additional 33,305 shares during the period. NWI Management LP increased its position in Tesla by 161.7% during the 4th quarter. NWI Management LP now owns 15,700 shares of the electric vehicle producer’s stock worth $6,340,000 after purchasing an additional 9,700 shares during the period. Nearwater Capital Markets Ltd purchased a new position in shares of Tesla during the 4th quarter worth approximately $95,306,000. Nicholas Investment Partners LP lifted its holdings in shares of Tesla by 11.2% in the 4th quarter. Nicholas Investment Partners LP now owns 3,752 shares of the electric vehicle producer’s stock valued at $1,515,000 after buying an additional 378 shares during the period. Finally, NorthRock Partners LLC boosted its stake in shares of Tesla by 244.5% in the fourth quarter. NorthRock Partners LLC now owns 59,662 shares of the electric vehicle producer’s stock valued at $24,094,000 after buying an additional 42,344 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.9%

Shares of Tesla stock opened at $334.07 on Wednesday. The firm’s 50-day moving average price is $260.85 and its two-hundred day moving average price is $328.28. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 163.76, a PEG ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $8,085,000. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,623 shares of company stock valued at $115,600,501 over the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler set a $400.00 price objective on Tesla in a report on Tuesday, May 6th. Finally, Guggenheim reiterated a “sell” rating and set a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $287.46.

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.