MY.Alpha Management HK Advisors Ltd Sells 6,108 Shares of Tesla, Inc. $TSLA

Key Points

• MY.Alpha Management HK Advisors Ltd reduced its stake in Tesla, Inc. by 29.3%, now holding 14,708 shares valued at approximately $3.81 million.
• Several institutional investors increased their positions in Tesla, with Korea Investment CORP boosting its holdings by 4.6% and Watts Gwilliam & Co. LLC raising theirs by 59.5% in the first quarter.
• Tesla's recent quarterly earnings showed a decline in revenue to $22.50 billion, missing the consensus estimate, and a drop in earnings per share to $0.40, down from $0.52 year-over-year.

MY.Alpha Management HK Advisors Ltd lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,708 shares of the electric vehicle producer's stock after selling 6,108 shares during the quarter. Tesla makes up approximately 1.9% of MY.Alpha Management HK Advisors Ltd's holdings, making the stock its 16th biggest holding. MY.Alpha Management HK Advisors Ltd's holdings in Tesla were worth $3,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. Navigoe LLC bought a new position in Tesla during the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $39,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 1.6%

NASDAQ TSLA traded down $5.41 during trading hours on Wednesday, hitting $323.90. 77,278,884 shares of the company traded hands, compared to its average volume of 105,285,383. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business's 50-day moving average is $321.01 and its 200-day moving average is $304.26. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 187.23, a P/E/G ratio of 11.65 and a beta of 2.33. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. HSBC reissued a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's 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 transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is owned by insiders.

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.