Insider Selling: Tesla, Inc. (NASDAQ:TSLA) CFO Sells 8,000 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA) CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Tesla Stock Performance

Shares of TSLA stock traded up $2.75 during mid-day trading on Wednesday, reaching $257.02. 64,862,622 shares of the company’s stock traded hands, compared to its average volume of 96,098,555. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The firm has a 50 day moving average price of $221.20 and a two-hundred day moving average price of $197.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market capitalization of $821.09 billion, a PE ratio of 65.57, a price-to-earnings-growth ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSLA. Clean Energy Transition LLP boosted its holdings in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. boosted its holdings in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. KGI Securities reiterated a “neutral” rating and set a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Finally, Wolfe Research began coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $209.90.

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.