Key Points
- Tesla CFO Vaibhav Taneja sold 2,606 shares on June 8 at an average price of $402.20, totaling about $1.05 million. The company said the sale was made to cover tax withholding obligations tied to vested equity awards.
- This was not Taneja’s only recent sale; he also sold 3,000 Tesla shares on May 13 for $1.35 million. After the latest transaction, he still directly owned 22,039 shares.
- Tesla shares were down 3.0% as the stock traded around $396.68, while analysts remained mixed overall with a consensus rating of “Hold” and a target price of $404.37. The article also noted Tesla’s latest earnings beat EPS estimates but missed revenue expectations.
Tesla, Inc. (NASDAQ:TSLA - Get Free Report) CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the transaction, the chief financial officer directly owned 22,039 shares of the company's stock, valued at $8,864,085.80. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Vaibhav Taneja also recently made the following trade(s):
- On Wednesday, May 13th, Vaibhav Taneja sold 3,000 shares of Tesla stock. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00.
Tesla Trading Down 3.0%
NASDAQ:TSLA opened at $396.68 on Wednesday. The company has a market capitalization of $1.49 trillion, a PE ratio of 363.93, a price-to-earnings-growth ratio of 16.15 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 52-week low of $288.77 and a 52-week high of $498.83. The stock has a fifty day simple moving average of $396.77 and a 200-day simple moving average of $416.12.
Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business's revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 EPS. On average, equities research analysts expect that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Networth Advisors LLC acquired a new position in shares of Tesla during the 4th quarter valued at about $26,000. Chapman Financial Group LLC acquired a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Davidson Capital Management Inc. increased its stake in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Friedenthal Financial increased its stake in shares of Tesla by 66.7% during the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Finally, Prism Advisors Inc. acquired a new position in shares of Tesla during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 66.20% of the company's stock.
Tesla News Roundup
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: JPMorgan sharply raised its Tesla price target from $145 to $475 and shifted its stance away from a bearish view, arguing that the market is undervaluing Tesla’s potential in autonomy, robotics, energy storage, and infrastructure licensing.
- Positive Sentiment: Reports that Tesla is rolling out unsupervised robotaxis in the Austin metro area are reinforcing the company’s autonomy narrative and supporting optimism about future software-driven revenue growth.
- Positive Sentiment: News that Tesla won approval for FSD expansion in Denmark, along with encouraging Dutch safety results showing fewer crashes, adds credibility to the company’s self-driving push and could help the case for a broader European rollout.
- Positive Sentiment: Tesla CEO Elon Musk’s plans for a SpaceX IPO, combined with widespread speculation about a possible future merger or deeper collaboration between SpaceX and Tesla, have fueled investor excitement around Musk’s broader AI and tech empire.
- Positive Sentiment: Commentary highlighting Tesla’s strong China retail sales and export growth has provided another support point for bulls who see demand still holding up in key international markets.
- Neutral Sentiment: Tesla CFO Vaibhav Taneja sold shares to cover tax withholding obligations related to equity awards, a routine insider transaction that is not necessarily a negative signal for the business.
- Neutral Sentiment: Several articles emphasized Tesla’s valuation debate, with bears still arguing the stock remains expensive versus current earnings, even as bulls focus on long-term growth from robotics and autonomous driving.
- Negative Sentiment: Some traders reported pressure on TSLA as investors rotated out of high-valuation tech names and questioned whether enthusiasm around SpaceX and Musk’s side projects could distract from Tesla’s core execution.
Wall Street Analyst Weigh In
TSLA has been the topic of a number of recent research reports. Benchmark restated a "buy" rating on shares of Tesla in a report on Wednesday, February 11th. Robert W. Baird reduced their target price on shares of Tesla from $538.00 to $522.00 and set an "outperform" rating on the stock in a report on Friday, April 24th. President Capital upped their target price on shares of Tesla from $424.00 to $428.00 and gave the company a "buy" rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tesla in a report on Friday. They issued a "buy" rating on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Tesla in a report on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus target price of $404.37.
Get Our Latest Report on TSLA
Tesla Company Profile
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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.
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