Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells 6,000 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a 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 Stock Down 14.3%

Shares of TSLA stock traded down $47.37 during trading on Thursday, hitting $284.68. 286,093,850 shares of the company were exchanged, compared to its average volume of 99,310,614. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $916.94 billion, a price-to-earnings ratio of 139.55, a P/E/G ratio of 5.86 and a beta of 2.47. The business's 50-day simple moving average is $291.12 and its 200 day simple moving average is $334.34. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $293.97.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the company. Osterweis Capital Management Inc. raised its position in shares of Tesla by 57.0% in the first quarter. Osterweis Capital Management Inc. now owns 785 shares of the electric vehicle producer's stock valued at $203,000 after purchasing an additional 285 shares during the period. CBIZ Investment Advisory Services LLC raised its position in shares of Tesla by 147.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 1,024 shares of the electric vehicle producer's stock valued at $265,000 after purchasing an additional 610 shares during the period. Hodges Capital Management Inc. raised its position in shares of Tesla by 58.8% in the first quarter. Hodges Capital Management Inc. now owns 3,178 shares of the electric vehicle producer's stock valued at $824,000 after purchasing an additional 1,177 shares during the period. Integrity Wealth Advisors Inc. raised its stake in Tesla by 37.0% during the 1st quarter. Integrity Wealth Advisors Inc. now owns 2,802 shares of the electric vehicle producer's stock valued at $726,000 after purchasing an additional 757 shares during the last quarter. Finally, Modern Wealth Management LLC raised its stake in Tesla by 58.6% during the 1st quarter. Modern Wealth Management LLC now owns 15,043 shares of the electric vehicle producer's stock valued at $3,898,000 after purchasing an additional 5,557 shares during the last quarter. Institutional investors 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.