Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells 8,000 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $31,548,461.84. This represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vaibhav Taneja also recently made the following trade(s):

• On Monday, November 11th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00.
• On Friday, November 1st, Vaibhav Taneja sold 4,000 shares of Tesla stock. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00.
• On Thursday, October 24th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00.
• On Monday, September 23rd, Vaibhav Taneja sold 8,000 shares of Tesla stock. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00.

Tesla Stock Performance

NASDAQ:TSLA opened at $320.72 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.49, a PEG ratio of 10.73 and a beta of 2.29. The business’s fifty day moving average is $250.10 and its 200 day moving average is $219.58.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. FMR LLC increased its stake in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Truist Financial lifted their target price on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Guggenheim lifted their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Company 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.