Aljian Capital Management LLC Buys New Position in Tesla, Inc. $TSLA

Key Points

• Aljian Capital Management LLC opened a new position in Tesla during the first quarter, buying 3,717 shares valued at about $1.38 million.
• Institutional ownership in Tesla remains high, with the article noting that 66.20% of the stock is held by hedge funds and other institutional investors.
• Wall Street sentiment is mixed: Tesla currently carries a consensus Hold rating and an average price target of $408.52, even as some analysts recently raised or lowered their targets.

Aljian Capital Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,717 shares of the electric vehicle producer's stock, valued at approximately $1,382,000.

A number of other large investors also recently modified their holdings of TSLA. Networth Advisors LLC bought a new position in Tesla during the fourth quarter worth $26,000. Davidson Capital Management Inc. raised its position in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 27 shares during the last quarter. Turning Point Benefit Group Inc. bought a new stake in shares of Tesla in the third quarter valued at about $30,000. Prism Advisors Inc. acquired a new stake in Tesla during the fourth quarter worth about $30,000. Finally, Texas Capital Bancshares Inc TX bought a new position in Tesla during the third quarter valued at about $31,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSLA shares. Tigress Financial initiated coverage on shares of Tesla in a research note on Monday, April 27th. They issued a "buy" rating on the stock. China Renaissance decreased their price objective on Tesla from $382.00 to $372.00 and set a "hold" rating on the stock in a report on Monday, April 27th. Robert W. Baird lowered their price objective on Tesla from $538.00 to $522.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. Truist Financial raised their target price on Tesla from $400.00 to $430.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Finally, Evercore raised Tesla from a "hold" rating to an "outperform" rating in a research note on Friday, June 5th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $408.52.

Tesla Stock Down 4.0%

Shares of TSLA opened at $402.90 on Wednesday. The business's 50 day simple moving average is $408.84 and its 200-day simple moving average is $410.39. Tesla, Inc. has a one year low of $293.55 and a one year high of $498.83. The company has a market capitalization of $1.51 trillion, a P/E ratio of 369.63, a PEG ratio of 16.46 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business's revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.21 EPS for the current fiscal year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla reported Q2 deliveries of 480,126 vehicles, well above estimates, and revenue growth remained solid, reinforcing that demand and execution improved in the latest quarter. Massive News for Tesla Stock Investors!
• Positive Sentiment: RBC raised its price target on Tesla to $500 and kept an outperform rating, citing optimism around a possible SpaceX merger that could create additional strategic value for Elon Musk’s ecosystem. Veteran Bank Revamps Tesla Stock Price Target on Potential SpaceX Merger
• Positive Sentiment: Tesla expanded its robotaxi service to Miami, its first market outside Texas and California, which adds a new catalyst for the autonomous-driving story that bulls are betting on. Tesla (TSLA) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Several articles framed Tesla as a stock to watch ahead of its July 22 earnings report, but these pieces were more commentary than new fundamentals.
• Neutral Sentiment: Wall Street continues to split between enthusiasm for Tesla’s AI/robotaxi optionality and skepticism over whether the stock’s premium valuation is already pricing in too much future growth.
• Negative Sentiment: Despite the delivery beat, Tesla’s stock sold off as investors questioned the sustainability of the demand improvement and the market’s reaction suggested the report was not enough to support a higher share price. Tesla's Delivery Numbers Blew Past Estimates. So Why Isn't the Stock Rallying?
• Negative Sentiment: Bearish commentary also highlighted Tesla’s rich valuation and said the delivery strength may not be enough to justify the stock’s current multiple. Tesla: Even The Bull Case Doesn't Justify This Absurd Valuation
• Negative Sentiment: Some coverage also argued Tesla’s self-driving story faces new legal and regulatory pressure after a Texas manslaughter case raised fresh questions about FSD claims. Tesla's Self-Driving Story Faces New Test

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the sale, the director owned 48,399 shares of the company's stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,015 shares of company stock valued at $12,383,640 over the last ninety days. 19.90% of the stock is currently owned by company insiders.

Tesla 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.

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