Chief Financial Officer of Tesla Inc. (NASDAQ: ) Vaibhav Taneja recently sold a significant portion of his company’s stock. According to a recent filing with the SEC, Taneja sold a total of 7,000 shares of Tesla stock on January 6, 2025, netting approximately $2.89 million. The sale was made 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 a share, with InvestingPro analysis showing that the stock is currently overvalued despite its impressive 68% growth over the past year.
In addition to these sales, Taneja exercised options to acquire 7,000 shares at $18.22 per share, a common practice among executives to capitalize stock options. After these transactions, Taneja holds 108,964.75 Tesla shares. For investors who follow the movements of insiders, InvestingPro offers a comprehensive analysis with 20+ additional insights into Tesla’s financial health and market position.
These transactions were executed pursuant to a Rule 10b5-1 trading plan, which was adopted on May 1, 2024, thereby allowing for pre-planned sales of shares to avoid any concerns about insider trading.
In other recent news, Tesla Inc. is under investigation by the National Highway Traffic Safety Administration (NHTSA) for reported accidents related to its ‘Actually Smart summon’ remote driving feature. NHTSA is also examining Tesla’s fully self-driving software after reported crashes. Meanwhile, Tesla is nearing completion of a lithium refinery in Texas, which could require up to 8 million gallons of water per day. The company, however, is yet to secure a contract to supply the required water.
In the financial realm, Stifel analysts maintained a buy rating on Tesla, raising their price target due to the company’s promising growth prospects. This positive projection is influenced by the upcoming presentation of Tesla’s “Model 2” and advances in artificial intelligence. Similarly, New Street Research raised Tesla’s stock from neutral to buy, citing the launch of lower-cost models and advances in fully self-driving technology as key growth drivers.
On the other hand, Truist Securities adjusted Tesla’s price target downward after the company’s fourth-quarter shipments and production data fell short of expectations. Despite these challenges, the company maintains its rating on the stock, which suggests a stable outlook. These developments underscore the dynamic and evolving landscape for Tesla in the technology and financial sectors.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
