On October 6, 2023, Vaibhav Taneja, the Chief Financial Officer of Tesla, Inc., sold 4,000 shares of the company’s stock at an average price of $253.98 per share, amounting to a total transaction value of $1,015,920. After this transaction, Taneja now holds 104,716 shares in Tesla valued at approximately $26,595,769.
This information was disclosed in a document filed with the U.S. Securities and Exchange Commission (SEC), which can be accessed through the provided link.
Tesla previously announced its earnings results on July 19th, reporting earnings per share of $0.91 for the quarter. This exceeded analysts’ consensus estimates by $0.22 per share. The company generated revenue of $24.93 billion during the quarter compared to the expected revenue of $24.22 billion. Tesla’s net margin stood at 12.97%, and its return on equity was recorded at 26.10%. In comparison to the same period last year, the firm experienced a significant increase in revenue by 47.2%. In the previous year’s corresponding period, earnings per share stood at $0.65. Analysts predict that for the current fiscal year, Tesla will post earnings per share of 2.92.
A few institutional investors and hedge funds have recently made adjustments to their holdings in Tesla (NASDAQ:TSLA). Axiom Financial Strategies LLC increased its holdings by 9.8% during the first quarter and now owns 906 shares valued at $777,000 after purchasing an additional 81 shares.
Mirae Asset Global Investments Co., Ltd., also saw their holdings grow by 19.7% during the first quarter and currently owns 1,001,923 shares worth approximately $1,079,672,000 after acquiring an additional 164,789 shares. MAS Advisors LLC, on the other hand, saw a 25.7% increase in their Tesla holdings during the first quarter and now owns 396 shares valued at $433,000 after purchasing an additional 81 shares.
Additionally, Ergoteles LLC increased its holdings by 33.4% during the initial quarter and currently owns 3,567 shares worth $3,844,000 after acquiring an additional 893 shares. Mackenzie Financial Corp also boosted its Tesla holdings by 6.8% in the first quarter and now holds 72,167 shares valued at $77,767,000 following their purchase of an additional 4,593 shares. Institutional investors own about 41.87% of Tesla’s stock.
These recent transactions and adjustments made by institutional investors demonstrate ongoing interest and confidence in Tesla’s future prospects as it continues to make waves within the electric vehicle industry.
The Impact of Vaibhav Taneja’s Trade on Tesla Stock and Market Sentiment
October 12, 2023 – In the world of stock trading, every move made by influential traders is closely monitored and analyzed. One such trader who has captured attention recently is Vaibhav Taneja. With a reputation for his shrewd investment decisions, Taneja’s latest trade involving NASDAQ TSLA has sparked interest and garnered attention from both investors and analysts alike.
On Wednesday, the shares of Tesla Inc., traded down to $262.99 during trading hours. The company witnessed a trading volume of 103,524,257 shares on that day, compared to its average volume of 142,178,109 shares. Tesla’s stock performance over the past year has fluctuated between a low of $101.81 and a high of $299.29.
With a market capitalization of a staggering $834.73 billion, Tesla holds significant sway in the market. Its price-to-earnings ratio stands at 74.50 with a price/earnings growth ratio (PEG) of 4.27 and a beta value of 2.07. Moreover, the company boasts an impressive debt-to-equity ratio of just 0.02, showcasing its financial stability.
Analyzing Tesla’s liquidity position reveals that it currently possesses a quick ratio of 1.07 and a current ratio of 1.59. These figures shed light on the company’s ability to meet short-term obligations promptly.
Examining Tesla’s price trends further unveils interesting insights regarding its moving averages. The stock had been exhibiting an upward trajectory until its recent decline in value; its 50-day moving average stood at $250 while its 200-day moving average was recorded at $229.05.
In light of these developments, several research analysts have chimed in with their opinions on Tesla stock in recent times. Deutsche Bank Aktiengesellschaft lowered their target price for Tesla shares from $300.00 to $285.00 but maintained a “buy” rating. Barclays reiterated an “equal weight” rating and set a target price of $260.00 for Tesla shares. Meanwhile, Jefferies Financial Group lowered their target price from $265.00 to $250.00.
Citigroup also decreased its price target on Tesla shares from $278.00 to $271.00 and adopted a “neutral” rating for the stock. Finally, StockNews.com initiated coverage on Tesla with a “hold” rating.
In total, six analysts have labeled Tesla’s stock as a sell, eighteen recommend holding onto it, while thirteen analysts advocate buying the stock – indicating a diverse range of opinions among industry experts regarding the company’s future prospects.
Taking into account these various viewpoints, Bloomberg data indicates that Tesla currently holds an average rating of “Hold” with a consensus target price of $239.03.
As investors digest the latest developments surrounding Vaibhav Taneja’s trade involving NASDAQ TSLA, market observers eagerly await further updates regarding this influential trader’s future moves in the ever-volatile world of stocks.