Tesla, Inc. (NASDAQ: ) Chief Financial Officer Vaibhav Taneja reported significant stock transactions, according to a recent filing with the SEC. On January 6, 2025, Taneja sold a total of 7,000 shares of Tesla common stock. The shares were sold at prices ranging from $402,854 to $423,135, for a total value of $2,894,917. The transaction comes as Tesla, currently valued at $1.27 trillion, trades near $395 per share. According to InvestingPro analysis, the stock appears to be overvalued at current levels, with high multiples across various metrics.
In addition to the sale, Taneja exercised options to acquire 7,000 shares at $18.22 per share, part of a pre-agreed 10b5-1 trading plan. After these transactions, Taneja holds 108,964.75 Tesla shares. The stock has shown strong momentum with a 68% return over the past year, despite its volatile nature. InvestingPro subscribers can access 20+ additional insights and detailed valuation metrics in the Pro Research Report.
These transactions were carried out as part of a trading plan adopted in May 2024, which allows executives to set a predetermined schedule for buying or selling shares. Tesla maintains a strong financial health rating of “GOOD” according to InvestingPro analysis, whereby the company holds more cash than debt on its balance sheet.
In other recent news, Tesla Inc. is in the center of attention due to a series of significant events. The US National Highway Traffic Safety Administration (NHTSA) has launched an investigation into 2.6 million Tesla vehicles after reports of accidents related to a remote driving feature called Actually Smart summon. The investigation follows a separate investigation into 2.4 million Tesla vehicles equipped with fully self-driving software.
Meanwhile, Tesla’s lithium refinery in Texas, which is nearing completion, could require up to 8 million gallons of water per day. The company has yet to secure a contract for the required water, raising concerns among local residents about the availability of water for their own needs.
On the stock market side, both Stifel and New Street Research upgraded Tesla shares, citing a positive outlook for the company’s growth prospects. Stifel analysts identified the upcoming unveiling of Tesla’s “Model 2” as a key growth catalyst, while New Street Research pointed to advances in Tesla’s fully autonomous technology (FSD) as a potential source of significant value.
However, Truist Securities adjusted its price target on Tesla shares to $351 from $360 previously, after Tesla reported fourth-quarter deliveries and production that fell short of expectations. Despite the challenges, Tesla’s advances in artificial intelligence and the launch of cheaper models are expected to drive the company’s growth in the coming years.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
