Tesla Inc.’s (NASDAQ:) Chief Financial Officer Vaibhav Taneja recently sold a significant portion of his company stock. According to a recent SEC filing, Taneja sold a total of 7,000 shares of Tesla common stock on January 6, 2025, generating approximately $2.89 million. The sales were executed at prices ranging from $402.854 to $423.135 per share. The transaction comes as Tesla, now valued at $1.27 trillion, trades near $395 per share, with InvestingPro analysis indicating the stock is currently overvalued despite its impressive 68% gain over the past year.
In addition to these sales, Taneja exercised options to acquire 7,000 shares at a price of $18.22 per share, which is a common practice among executives to capitalize on stock options. Following these transactions, Taneja holds 108,964.75 shares of Tesla stock. For investors tracking insider movements, InvestingPro offers comprehensive analysis with 20+ additional insights about Tesla’s financial health and market position.
These transactions were carried out under a Rule 10b5-1 trading plan, which was adopted on May 1, 2024, allowing for pre-planned sales of stocks to avoid any potential insider trading concerns.
In other recent news, Tesla Inc. is under investigation by the National Highway Traffic Safety Administration (NHTSA) due to reported accidents linked to its remote driving feature, ‘Actually Smart summon’. The NHTSA is also probing Tesla’s full self-driving software following reported collisions. Meanwhile, Tesla is nearing completion of a lithium refinery in Texas, which could require up to 8 million gallons of water daily. The company, however, has yet to secure a contract for the necessary water supply.
In the financial realm, Stifel analysts have maintained a buy rating on Tesla, raising their price target due to the company’s promising growth outlook. This positive projection is influenced by the upcoming rollout of Tesla’s “Model 2” and advancements in artificial intelligence. Similarly, New Street Research upgraded Tesla’s stock from neutral to buy, citing the launch of lower-cost models and progress in full self-driving technology as key growth drivers.
On the other hand, Truist Securities adjusted its price target on Tesla downward following the company’s fourth-quarter deliveries and production figures, which did not meet expectations. Despite these challenges, the firm maintains a hold rating on the shares, suggesting a stable outlook. These developments underscore the dynamic and evolving landscape for Tesla in both the technological and financial sectors.
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