Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells 4,000 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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 transaction of $2,000,000.00.

Tesla Stock Down 2.5 %

TSLA stock traded down $6.14 during midday trading on Monday, reaching $242.84. 68,203,403 shares of the company were exchanged, compared to its average volume of 94,057,703. 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, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The stock’s 50-day simple moving average is $234.73 and its 200 day simple moving average is $211.81. The company has a market cap of $779.53 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and increased their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $219.45.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at $29,000. Finally, Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.