Key Points
- Tesla CFO Vaibhav Taneja sold 2,606 shares at an average price of $360.13, generating about $938,499. The sale covered tax withholding obligations tied to vested equity awards and reduced his holdings by 9.12%.
- Tesla reported quarterly revenue of $28.24 billion, above estimates, but earnings per share of $0.33 missed the $0.50 consensus. The stock opened at $367.81, with a market capitalization of roughly $1.45 trillion.
- Analysts have a consensus “Hold” rating and a $401.74 price target, while investors weigh robotaxi and Full Self-Driving opportunities against weakening China sales, regulatory scrutiny and Tesla’s demanding valuation.
Tesla, Inc. (NASDAQ:TSLA - Get Free Report) CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer owned 25,972 shares in the company, valued at $9,353,296.36. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Tesla Stock Down 0.1%
Tesla stock opened at $367.81 on Thursday. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 340.57, a P/E/G ratio of 18.59 and a beta of 1.84. The firm has a 50 day simple moving average of $354.87 and a 200 day simple moving average of $381.84. Tesla, Inc. has a 1-year low of $297.38 and a 1-year high of $498.83. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. During the same period in the previous year, the business earned $0.33 earnings per share. Tesla's revenue was up 25.5% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 0.88 earnings per share for the current year.
Institutional Trading of Tesla
A number of hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in shares of Tesla by 41,911.1% in the second quarter. California State Teachers Retirement System now owns 1,797,248,195 shares of the electric vehicle producer's stock worth $755,922,591,000 after purchasing an additional 1,792,970,163 shares during the last quarter. Norges Bank bought a new stake in Tesla during the 4th quarter valued at $17,128,100,000. Corient Private Wealth LLC boosted its position in Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock valued at $9,650,811,000 after buying an additional 20,810,386 shares during the period. Legal & General Group Plc bought a new stake in Tesla in the 2nd quarter worth $8,535,612,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Tesla in the second quarter valued at about $6,083,630,000. 66.20% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on TSLA shares. Erste Group Bank raised shares of Tesla from a "sell" rating to a "hold" rating in a report on Friday, June 5th. HSBC restated a "hold" rating on shares of Tesla in a research report on Monday, June 15th. Evercore upgraded Tesla from a "hold" rating to an "outperform" rating in a research report on Friday, June 5th. BMO Capital Markets started coverage on Tesla in a research note on Monday, August 17th. They set an "outperform" rating for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price (down from $510.00) on shares of Tesla in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $401.74.
Read Our Latest Report on TSLA
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s Cybercab rollout remains the primary bullish catalyst. The company has added 45 vehicles to its Austin fleet, while CEO Elon Musk says the redesigned manufacturing process could produce Cybercabs more than five times faster. Lower operating costs could help Tesla compete with Waymo and Uber if the technology scales. 45 Tesla Cybercabs Are Now Roaming Austin
- Positive Sentiment: Slovenia approved Tesla’s supervised Full Self-Driving system, making it the sixth European country to do so. Investors view the approval as a possible step toward an EU-wide authorization and additional software subscription revenue. A potential European launch of Cybercab is also supporting the long-term growth narrative. Slovenia clears Tesla’s FSD driver assistance
- Positive Sentiment: Goldman Sachs estimates Tesla’s Cybercab could operate at a cost advantage of as much as $0.30 per mile versus rival autonomous vehicles if Tesla reaches its targeted production costs, strengthening the potential economics of a large robotaxi network. Tesla Cybercab Could Beat Waymo on Cost
- Neutral Sentiment: Analysts continue to debate whether Tesla can become a successful robotaxi platform or whether Waymo’s operational experience and sensor-heavy approach give it an advantage. The Cybercab’s early fares have varied widely versus Uber, highlighting that the commercial model is not yet proven. Tesla versus Alphabet’s Waymo
- Negative Sentiment: Tesla’s China sales continue to weaken. August domestic sales declined, and the company is offering cash incentives through September 30, suggesting persistent competitive and demand pressure in the world’s largest EV market. Strong exports provide some offset but do not resolve the underlying weakness. Tesla Sales in China Continue Negative Streak
- Negative Sentiment: Regulatory scrutiny remains a major risk. The National Highway Traffic Safety Administration is examining certification and technical data related to nearly 1,000 driverless Cybercabs, raising questions about Tesla’s ability to expand the service quickly and safely. Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Negative Sentiment: Some investors remain bearish because Tesla’s valuation is demanding relative to its modest profitability and slowing core auto business. With a very high earnings multiple, the stock is particularly dependent on successful execution of FSD, robotaxis and other future businesses.
About Tesla
(
Get Free Report)
Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.
The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
