Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja Sells 6,000 Shares

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. 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 Tuesday, June 3rd, Vaibhav Taneja sold 1,000 shares of Tesla stock. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00.
• On Friday, May 16th, Vaibhav Taneja sold 3,000 shares of Tesla stock. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00.
• On Friday, May 9th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The shares were sold at an average price of $300.00, for a total transaction of $1,200,000.00.
• 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 transaction 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 transaction 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 transaction of $718,046.56.

Tesla Trading Down 3.5%

Shares of NASDAQ:TSLA opened at $332.05 on Thursday. The stock has a 50 day moving average of $291.12 and a 200 day moving average of $334.34. The company has a market cap of $1.07 trillion, a PE ratio of 162.77, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 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 earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TSLA. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Geode Capital Management LLC increased its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank purchased a new stake in Tesla in the fourth quarter worth $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Piper Sandler set a $400.00 price objective on shares of Tesla in a report on Tuesday, May 6th. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $293.97.

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.