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Ron Baron's undying Tesla giddiness: Insider trades & hedge funds weekly

Published Sep 17, 2023 06:04PM ET
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By Davit Kirakosyan

Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed last week: Ron Baron expects 4-5x growth for Tesla, news out of GoDaddy and Starboard Value, Azenta and Politan Capital, and top brass buys at Foot Locker , 1-800-FLOWERS.Com, Vapotherm, and Audioeye.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Largest SpaceX investor Ron Baron foresees 4-5x growth at Tesla

Ron Baron, a billionaire fund manager who was an early investor in Tesla (NASDAQ:TSLA), has revealed on CNBC that his investment firm is the largest investor in SpaceX with 17.5 million shares, or some $1 billion.

Baron also believes Tesla's units will be up 25% to 30%, that its EV revenue could grow 30% this and next year, and that Tesla will grow 4 to 5 times larger over the next seven years.

InvestingPro | Always Know First

Another pair of hedge fund headlines

GoDaddy's (NYSE:GDDY) stock has been on the rise since Tuesday after activist investor Starboard Value, the third-largest shareholder with around 7.8% ownership, sent a letter criticizing "undervalued" GoDaddy's performance in the past 18 months, as reported in real-time on InvestingPro. Starboard urged exploring ways to improve shareholder value, including cost reductions or a possible sale.

Politan Capital discloses a 6.9% stake in Azenta (NASDAQ:AZTA). The firm had a stake but over doubled it.

4 big insider trades

Foot Locker (NYSE:FL) CEO Mary Dillion purchased 5,510 common shares, worth over $100,000, at $18.17. Dillion owns 27,649 shares indirectly, and 115,388 directly following the latest purchase.

1-800 FLOWERS.COM (NASDAQ:FLWS) CFO William Shea purchased 30,000 common shares, worth around $190,000, at an average price of $6.34. Shea owns 274,883 common shares directly following the latest purchase.

Vapotherm (NYSE:VAPO) CEO Joseph Army purchased 100,000 common shares, worth over $300,000, at $3.3091-$3.5816 per share.

AudioEye (NASDAQ:AEYE) Director Jamil Tahir bought 100,000 common shares, worth over $500,000, at $5.09-$5.15 per share.

Jump on the biggest news for your portfolio amid a barrage of market headlines: Always be the first to know with InvestingPro.

InvestingPro | Be The First To Know

Ron Baron's undying Tesla giddiness: Insider trades & hedge funds weekly
 

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Jim Herndon
Jim Herndon Sep 18, 2023 2:42PM ET
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