Aragon Global Management LP Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Aragon Global Management LP acquired 12,200 shares of Tesla, Inc. valued at approximately $3,162,000, making it 1.2% of the fund's portfolio and its 18th largest holding.
• Institutions currently own 66.20% of Tesla's stock, with significant transactions reported, including new positions by Eagle Capital Management and Brighton Jones LLC.
• Tesla's stock has a current average rating of "Hold" from analysts, with a target price range between $320.00 and $500.00, reflecting mixed opinions on the company's growth potential.

Aragon Global Management LP acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,200 shares of the electric vehicle producer's stock, valued at approximately $3,162,000. Tesla makes up approximately 1.2% of Aragon Global Management LP's investment portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Eagle Capital Management LLC purchased a new position in Tesla during the 4th quarter worth approximately $331,000. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla during the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE purchased a new position in shares of Tesla during the 4th quarter valued at $2,367,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSLA. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Canaccord Genuity Group boosted their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $303.31.

Insider Activity

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,564 shares of company stock valued at $51,792,190. Insiders own 20.70% of the company's stock.

Tesla Stock Down 1.0%

Shares of TSLA opened at $345.98 on Friday. The company has a 50-day simple moving average of $323.35 and a 200-day simple moving average of $303.11. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 199.99, a P/E/G ratio of 12.15 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $205.97 and a 52 week 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 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 analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.

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