Vaibhav Taneja Sells 2,564 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 Monday, June 2nd, Vaibhav Taneja sold 6,000 shares of Tesla stock. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00.
• 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 value of $1,050,330.00.
• On Friday, May 9th, Vaibhav Taneja sold 4,000 shares of Tesla stock. The stock was 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 stock was 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 value of $1,000,000.00.

Tesla Trading Down 2.2%

Shares of NASDAQ TSLA traded down $7.32 during trading hours on Thursday, hitting $319.11. 104,392,972 shares of the company traded hands, compared to its average volume of 100,720,943. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 156.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12 month low of $176.92 and a 12 month high of $488.54. The company's 50 day moving average price is $295.60 and its 200 day moving average price is $333.11. 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 (NASDAQ:TSLA - Get Free Report) last issued 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 company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wedbush set a $500.00 price objective on shares of Tesla in a research note on Thursday, June 5th. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Bank of America decreased their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and increased their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $293.67.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter worth $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.