Did Tesla and FANG Stocks’ Poor Q1 Performance Do In Daniel Benton’s Andor Capital?

#3 Facebook Inc (NASDAQ:FB)

– Shares Owned by Andor Capital Management (as of December 31): 525,000

– Value of Holding (as of December 31): $55 million

Moving on, Andor Capital Management upped its stake in Facebook Inc (NASDAQ:FB) by 5% during the fourth quarter. Driven by another quarter of impressive performance, shares of the social media behemoth recently broke above the $120 mark for the first time and currently trade with year-to-date gains of 12.8%, which included gains of nearly 10% during the first quarter, making it the only positive performer in Andor Capital’s top-5 during the period. Going into its first quarter earnings, analysts had projected Facebook to report EPS of $0.62 on revenue of $5.25 billion. However, Facebook Inc (NASDAQ:FB) managed to comfortably beat those estimates by declaring EPS of $0.77 on revenue of $5.38 billion. Mobile ads contributed 82% to the company’s total ad revenue during the quarter, compared to 73% in the first quarter of 2015. Facebook’s first quarter report included the announcement that it will issue a batch of Class C shares, which won’t have any voting rights attached to them. On May 13, analysts at MKM Partners reiterated their ‘Buy’ rating on the stock while upping their price target on it to $150 from $135.

#2 Alphabet Inc (NASDAQ:GOOGL)

– Class A Shares Owned by Andor Capital Management (as of December 31): 100,000

– Value of Holding (as of December 31): $77.80 million

Andor Capital Management initiated a stake in Alphabet Inc (NASDAQ:GOOGL) during the third quarter of 2015 and continued to hold the same total of 100,000 Class A Alphabet shares at the end of 2015. Shares of the search giant plummeted heavily recently after it reported weaker-than-expected results for the first quarter because of  a 9% year-over-year decline in ad prices. Owing largely to this decline, the stock is currently trading down by 8.28% year-to-date. The company recently announced that it is partnering with Fiat Chrysler Automobiles (NYSE:FCAU) for its autonomous car program. Under the partnership, Alphabet will fit its self-driving car technology into 100 Pacific minivans manufactured by Fiat Chrysler. Alphabet’s stock currently sports an average rating of ‘Buy’ and an average price target of $908.74 from the 48 leading analysts and research houses on the Street who track it. Alex Snow‘s Lansdowne Partners upped its stake in the company’s Class A shares by 26% during the first quarter.

#1 Tesla Motors Inc (NASDAQ:TSLA)

– Shares Owned by Andor Capital Management (as of December 31): 1 million

– Value of Holding (as of December 31): $240 million

Andor Capital Management didn’t make any changes to its stake in Tesla Motors Inc (NASDAQ:TSLA) during the final quarter of 2015, with it accounting for over one-third of the value of the fund’s portfolio at the end of the year. While shares of the electric car manufacturer were down only marginally in the first quarter, they have recently been hit much harder and now trade down by 13.5% this year. While the loss of $0.57 per share on revenue of $1.6 billion that the company reported for its first quarter was largely in-line with analysts’ expectations, it couldn’t meet its delivery numbers for the quarter and raised its capex projection for 2016, which was not received well by investors. Along with its latest quarterly results, the company also announced that it is advancing its plan to produce 500,000 vehicles a year by two years, with it now expecting to reach that milestone by 2018. Following the earnings release, analysts at Morgan Stanley reduced their 2016 EPS estimate for the company by $0.70 to a loss of $0.02 per share, in addition to lowering their 2017 EPS estimate for Tesla by $0.79 to $0.35. Joe Dimenna‘s Zweig Dimenna Partners increased its stake in Tesla by 112% to 27,000 shares during the first quarter.

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