Vaibhav Taneja Sells 2,672 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, March 3rd, Vaibhav Taneja sold 6,000 shares of Tesla stock. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00.
• On Monday, February 3rd, Vaibhav Taneja sold 7,000 shares of Tesla stock. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00.
• On Monday, January 6th, Vaibhav Taneja sold 7,000 shares of Tesla stock. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00.
• On Friday, December 6th, Vaibhav Taneja sold 2,606 shares of Tesla stock. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26.

Tesla Stock Performance

Shares of Tesla stock traded down $0.78 during midday trading on Friday, hitting $262.67. The company had a trading volume of 102,166,241 shares, compared to its average volume of 82,497,328. The business's 50 day simple moving average is $367.78 and its two-hundred day simple moving average is $318.71. The stock has a market cap of $844.88 billion, a PE ratio of 128.76, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. UBS Group reissued a "neutral" rating on shares of Tesla in a report on Tuesday, March 4th. StockNews.com lowered shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Truist Financial increased their target price on shares of Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Royal Bank of Canada restated a "mixed" rating on shares of Tesla in a research report on Saturday, February 8th. Finally, Phillip Securities lowered shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $327.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Norges Bank bought a new position in Tesla in the fourth quarter worth $14,420,248,000. FMR LLC lifted its position 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. Strategic Financial Concepts LLC lifted its holdings in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors.

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.