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

Key Points

• Aspen Capital Management LLC acquired a new stake in Tesla, purchasing 739 shares valued at approximately $235,000 in the second quarter, highlighting increased interest from institutional investors.
• Analysts have issued varied price targets for Tesla, with Cantor Fitzgerald setting a target at $510.00 while JPMorgan Chase raised its target from $115.00 to $150.00, reflecting optimistic views on the stock's performance.
• Tesla reported earnings of $0.50 EPS for the recent quarter, exceeding the consensus estimate and generating revenue of $28.10 billion, marking an 11.6% year-over-year increase.

Aspen Capital Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 739 shares of the electric vehicle producer's stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter valued at about $29,000. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Evergreen Private Wealth LLC boosted its position in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Centennial Bank AR boosted its position in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLA. Cantor Fitzgerald set a $510.00 price target on Tesla in a report on Thursday. JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. BNP Paribas Exane began coverage on Tesla in a report on Thursday, October 16th. They issued an "underperform" rating and a $307.00 price target on the stock. Dbs Bank increased their price target on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $380.03.

Tesla Stock Performance

Shares of TSLA opened at $433.72 on Friday. The firm has a market cap of $1.44 trillion, a PE ratio of 289.15, a PEG ratio of 16.13 and a beta of 2.08. The stock's fifty day moving average price is $398.06 and its two-hundred day moving average price is $339.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for 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 business's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

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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