Tesla, Inc. (NASDAQ:TSLA) CFO Sells $1,200,000.00 in Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $8,085,000. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, May 1st, Vaibhav Taneja sold 4,000 shares of Tesla stock. The shares were sold at an average price of $284.40, for a total value of $1,137,600.00.
• On Monday, April 7th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00.
• On Thursday, March 6th, Vaibhav Taneja sold 2,672 shares of Tesla stock. The shares were sold at an average price of $268.73, for a total value of $718,046.56.
• On Monday, March 3rd, Vaibhav Taneja sold 6,000 shares of Tesla stock. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00.

Tesla Stock Performance

Tesla stock opened at $342.82 on Friday. The firm has a market capitalization of $1.10 trillion, a P/E ratio of 168.05, a PEG ratio of 5.86 and a beta of 2.43. The stock has a fifty day moving average price of $264.96 and a 200 day moving average price of $328.97. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Geode Capital Management LLC grew its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank purchased a new stake in Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp grew its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Morgan Stanley reaffirmed a “buy” rating and set a $430.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Finally, Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $287.46.

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.