Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells $2,402,960.00 in Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 8,000 shares of the business’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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00.
• On Friday, November 1st, Vaibhav Taneja sold 4,000 shares of Tesla stock. The shares were 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 shares were 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 Trading Up 3.1 %

Shares of NASDAQ TSLA opened at $320.72 on Friday. The firm has a 50 day moving average price of $250.10 and a two-hundred day moving average price of $219.58. The stock has a market cap of $1.03 trillion, a P/E ratio of 87.49, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. 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 (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its stake in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares during the period. Tyler Stone Wealth Management increased its stake in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the period. Savvy Advisors Inc. increased its stake in shares of Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Tesla by 19.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TSLA. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Guggenheim raised their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $230.18.

About Tesla

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.