Vaibhav Taneja Sells 2,606 Shares of Tesla (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, July 7th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00.
• On Tuesday, July 8th, Vaibhav Taneja sold 2,000 shares of Tesla stock. The stock was sold at an average price of $300.00, for a total value of $600,000.00.

Tesla Trading Up 6.0%

Shares of NASDAQ:TSLA opened at $368.81 on Friday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market cap of $1.19 trillion, a PE ratio of 213.18, a P/E/G ratio of 12.13 and a beta of 2.06. The business has a 50 day moving average of $327.25 and a 200-day moving average of $302.84. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TSLA shares. Argus restated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Benchmark restated a “buy” rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. HSBC restated a “reduce” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $303.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Holos Integrated Wealth LLC raised its position in Tesla by 10.8% during the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock worth $102,000 after purchasing an additional 30 shares during the last quarter. First Merchants Corp raised its position in Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares during the last quarter. Kaye Capital Management raised its position in Tesla by 3.1% during the 2nd quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock worth $333,000 after purchasing an additional 31 shares during the last quarter. Spectrum Wealth Advisory Group LLC raised its position in Tesla by 3.4% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock worth $299,000 after purchasing an additional 31 shares during the last quarter. Finally, Wambolt & Associates LLC raised its position in Tesla by 1.0% during the 2nd quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock worth $938,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.