Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells 6,000 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This represents a 20.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, February 3rd, Vaibhav Taneja sold 7,000 shares of Tesla stock. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00.
• On Monday, January 6th, Vaibhav Taneja sold 7,000 shares of Tesla stock. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00.
• On Friday, December 6th, Vaibhav Taneja sold 2,606 shares of Tesla stock. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26.

Tesla Trading Up 2.6 %

Shares of TSLA stock opened at $279.10 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a fifty day moving average of $374.97 and a 200-day moving average of $318.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $897.73 billion, a price-to-earnings ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on TSLA. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Jefferies Financial Group boosted their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus lowered their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $315.33.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in TSLA. Swedbank AB lifted its holdings in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at $403,000. Donaldson Capital Management LLC acquired a new stake in shares of Tesla during the third quarter worth $233,000. Rational Advisors LLC increased its holdings in Tesla by 128.6% in the third quarter. Rational Advisors LLC now owns 3,063 shares of the electric vehicle producer’s stock valued at $801,000 after purchasing an additional 1,723 shares during the last quarter. Finally, Solitude Financial Services bought a new position in Tesla during the third quarter worth about $235,000. Institutional investors own 66.20% of the company’s stock.

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.