Vaibhav Taneja Sells 2,637 Shares of Tesla (NASDAQ:TSLA) Stock

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

Tesla Price Performance

Shares of NASDAQ TSLA opened at $451.91 on Thursday. The firm has a market cap of $1.50 trillion, a P/E ratio of 301.27, a PEG ratio of 14.99 and a beta of 1.87. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $434.72 and a 200 day moving average of $374.86.

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

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the stock. Chapman Financial Group LLC bought a new stake in Tesla during the 2nd quarter worth approximately $26,000. Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter valued at $29,000. Manning & Napier Advisors LLC purchased a new position in shares of Tesla during the 3rd quarter valued at $29,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 2nd quarter worth $30,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. New Street Research upped their target price on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. China Renaissance raised their target price on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Thursday, October 23rd. Finally, President Capital raised their price target on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.