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 company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $31,548,461.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 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 shares were sold at an average price of $250.00, for a total value of $2,000,000.00.

Tesla Price Performance

NASDAQ:TSLA traded up $1.75 during trading hours on Wednesday, reaching $330.24. 124,665,637 shares of the company traded hands, compared to its average volume of 95,829,703. The firm’s 50-day moving average is $246.26 and its 200-day moving average is $218.16. The stock has a market cap of $1.06 trillion, a P/E ratio of 88.91, a P/E/G ratio of 10.67 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on TSLA shares. Bank of America upped their target price on Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Finally, Wolfe Research started coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Eight 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.06.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its position in 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 purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management lifted its stake in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares in the last quarter. Savvy Advisors Inc. lifted its stake in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Tesla by 19.0% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after purchasing an additional 3,909 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of 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 in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.