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

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $296.02, for a total value of $1,776,120.00.

Tesla Stock Up 4.1%

Shares of Tesla stock opened at $347.68 on Thursday. The stock’s fifty day moving average is $262.55 and its 200-day moving average is $328.41. The firm has a market capitalization of $1.12 trillion, a PE ratio of 170.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for 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 period in the previous year, the firm posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Wealth Group Ltd. bought a new stake in shares of Tesla during the 4th quarter worth about $275,000. RMR Wealth Builders boosted its stake in Tesla by 72.0% during the 4th quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock valued at $6,209,000 after purchasing an additional 6,439 shares during the period. Czech National Bank raised its holdings in Tesla by 7.1% in the 4th quarter. Czech National Bank now owns 605,404 shares of the electric vehicle producer’s stock valued at $244,486,000 after acquiring an additional 40,134 shares in the last quarter. Aprio Wealth Management LLC raised its holdings in Tesla by 7.7% in the 4th quarter. Aprio Wealth Management LLC now owns 7,813 shares of the electric vehicle producer’s stock valued at $3,155,000 after acquiring an additional 557 shares in the last quarter. Finally, Matrix Trust Co acquired a new position in Tesla in the 4th quarter valued at approximately $184,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Bank of America dropped their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Robert W. Baird dropped their price objective on Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Roth Mkm decreased their target price on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.