IvyRock Asset Management HK Ltd Takes Position in Tesla, Inc. $TSLA

IvyRock Asset Management HK Ltd acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel.com reports. The fund acquired 26,300 shares of the electric vehicle producer’s stock, valued at approximately $11,828,000. Tesla accounts for 6.2% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 5th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Networth Advisors LLC acquired a new position in shares of Tesla in the 4th quarter valued at approximately $26,000. Chapman Financial Group LLC acquired a new position in shares of Tesla in the 2nd quarter valued at approximately $26,000. Davidson Capital Management Inc. grew its position in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 27 shares during the period. Prism Advisors Inc. acquired a new position in shares of Tesla in the 4th quarter valued at approximately $30,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.2%

TSLA opened at $418.45 on Friday. Tesla, Inc. has a 1-year low of $273.21 and a 1-year high of $498.83. The stock’s fifty day simple moving average is $395.23 and its 200 day simple moving average is $416.24. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.57 trillion, a PE ratio of 383.90, a price-to-earnings-growth ratio of 16.73 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 1.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Zacks Research upgraded Tesla from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Truist Financial reduced their price target on Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a research report on Monday. Barclays reaffirmed a “neutral” rating on shares of Tesla in a research report on Wednesday, May 13th. Finally, Mizuho reduced their price target on Tesla from $540.00 to $480.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Nineteen research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $395.20.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla expanded its unsupervised Robotaxi service area in Austin, a sign that its autonomous ride-hailing push is still advancing and could support the long-term AI/robotics story. Reuters: Tesla rolls out unsupervised robotaxis in Austin
• Positive Sentiment: Tesla reported a strong rebound in China-made EV sales in May, with Shanghai deliveries jumping sharply as the domestic market showed signs of recovery, which may help near-term demand sentiment. CNBC: Tesla’s China-made EV sales jump nearly 40% in May
• Positive Sentiment: Global EV sales rose in April and were led by Tesla, reinforcing that the broader EV market is still growing. TipRanks: Global Electric Vehicle Sales Rose 16% in April
• Neutral Sentiment: News around SpaceX’s massive IPO and speculation about a possible future Tesla-SpaceX linkage is stirring investor attention, but it is mostly indirect and highly speculative for TSLA in the near term. CNBC: SpaceX targets $135 IPO price
• Negative Sentiment: Several reports highlighted that Tesla’s stock is being dragged by weakness in tech stocks overall, especially after Broadcom’s disappointing results weighed on the sector. Yahoo Finance: Sector Update: Tech Stocks Fall Thursday Afternoon
• Negative Sentiment: Analysts and commentators continue to question Tesla’s rich valuation, arguing that the stock price still reflects ambitious AI, robotaxi, and robotics expectations that have not yet been fully proven in financial results. 247WallSt: Buy, Hold, or Sell: Is Tesla Stock a Sell Above $400?
• Negative Sentiment: Competitive and legal concerns are also lingering, including scrutiny over Tesla’s FSD claims in China and new competition in robotics and EVs, which can pressure sentiment. Yahoo Finance: Tesla Faces China FSD Lawsuit

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 55,218 shares of company stock worth $20,609,455. 19.90% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.