Aspen Capital Management LLC Acquires New Position in Tesla, Inc. $TSLA

Aspen Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 739 shares of the electric vehicle producer’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Siren L.L.C. purchased a new stake in Tesla in the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC lifted its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC purchased a new stake in Tesla in the 1st quarter worth approximately $594,000. Strs Ohio purchased a new stake in Tesla in the 1st quarter worth approximately $205,495,000. Finally, IFM Investors Pty Ltd lifted its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after buying an additional 46,087 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Benchmark restated a “buy” rating on shares of Tesla in a research note on Thursday. TD Cowen raised their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, China Renaissance raised their target price on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $380.03.

Tesla Stock Down 3.4%

TSLA stock opened at $433.72 on Friday. The firm has a market cap of $1.44 trillion, a PE ratio of 289.15, a price-to-earnings-growth ratio of 16.13 and a beta of 2.08. The business has a 50 day moving average of $398.06 and a 200 day moving average of $339.92. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.