Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells $2,481,010.00 in Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 8th, Vaibhav Taneja sold 8,000 shares of Tesla stock. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00.
• 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 transaction of $1,007,040.00.
• On Thursday, October 24th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The stock was 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 Stock Up 5.3 %

Shares of TSLA opened at $389.22 on Friday. The stock has a fifty day simple moving average of $282.96 and a two-hundred day simple moving average of $236.89. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $389.49.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Tesla’s quarterly revenue 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.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial upped their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $245.84.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TSLA. Boulder Wealth Advisors LLC purchased a new stake in Tesla in the third quarter valued at $232,000. Oriental Harbor Investment Fund acquired a new stake in shares of Tesla during the 3rd quarter worth about $14,700,000. Inspire Trust Co. N.A. raised its holdings in Tesla by 23.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock valued at $2,145,000 after buying an additional 1,548 shares during the period. Beaird Harris Wealth Management LLC lifted its position in Tesla by 1,089.8% in the third quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock valued at $6,789,000 after buying an additional 23,768 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Tesla by 8.2% during the third quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock valued at $1,035,577,000 after acquiring an additional 300,951 shares during the last quarter. 66.20% of the stock is currently 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.