Among the hedge funds that we track, Benton’s Andor Capital Management holds the biggest position in Tesla Motors Inc (NASDAQ:TSLA), of exactly 1.0 million shares with a value of $268 million according to the fund’s latest 13F filing. Balyasny is also a fan of Musk’s company, as his fund, Balyasny Asset Management, holds 310,730 shares worth $83.3 million as of the end of the second quarter. During the second quarter, Peter Muller and Wayne Cooperman initiated significant positions in Tesla Motors through their funds. Muller’s PDT Partners reported ownership of 115,086 shares valued at $30.8 million in its latest 13F filing, while Cooperman’s Cobalt Capital Management bought 20,000 shares worth roughly $5.36 million.
This optimism was reflected in the stock price of Tesla Motors Inc (NASDAQ:TSLA), as it went up by as much as 14% to $286 per share by mid-July, though the stock turned south and has fallen to as low as $195 per share since then. The latest rally has brought it back above the $250 per share mark, including gains of 1.24% today, no doubt because of Musk’s announcement. Although the stock hit a ceiling at $291.42 in September of 2014, analysts believe it is poised for significant growth and see the company’s launch of the Model X as a driver. Deliveries will start on September 29, with the price not explicitly stated, but hinted to be $5,000 more than the price of Model S vehicles, while the Model X Signature series will start at $132,000 before any Federal or state incentives for electric cars are applied. Analysts have set a consensus price target of $297 on the stock, as they are uneasy about the company’s enormous capital spending, believed to amount to approximately $1.5 billion by the end of the year.