Tesla (NASDAQ:TSLA) CFO Sells $1,170,643.41 in Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the transaction, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Tesla Trading Up 1.3%

TSLA traded up $5.60 during mid-day trading on Tuesday, hitting $445.18. The stock had a trading volume of 62,157,060 shares, compared to its average volume of 99,025,414. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock’s fifty day simple moving average is $434.86 and its 200-day simple moving average is $373.57. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 296.79, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in TSLA. Relyea Zuckerberg Hanson LLC grew its position in shares of Tesla by 0.4% in the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after buying an additional 23 shares during the last quarter. Equita Financial Network Inc. grew its position in shares of Tesla by 2.8% in the third quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock valued at $380,000 after purchasing an additional 23 shares during the period. VanderPol Investments L.L.C. increased its position in shares of Tesla by 2.2% during the third quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after purchasing an additional 23 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in Tesla by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after purchasing an additional 23 shares in the last quarter. Finally, Cloud Capital Management LLC increased its stake in shares of Tesla by 1.1% in the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after acquiring an additional 23 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HSBC reissued a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. New Street Research raised their price target on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Evercore ISI upped their target price on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. President Capital lifted their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the company an “overweight” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $399.33.

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.