Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
On March 3, 2025, Tesla, Inc. (NASDAQ:TSLA) Chief Financial Officer Vaibhav Taneja executed a series of stock transactions, according to a recent SEC filing. With Tesla’s market capitalization at $897.73 billion and current stock price at $279.1, Taneja sold shares worth approximately $1.78 million, with sale prices ranging from $279.53 to $301.727 per share.
The transactions were carried out under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. In total, Taneja sold 6,000 shares of Tesla common stock. The sales were part of a series of transactions to cover the exercise price and satisfy tax obligations related to the exercise of stock options. According to InvestingPro data, Tesla’s stock has shown significant volatility, with a beta of 2.51 and a 58% return over the past year.
Following these transactions, Taneja holds 23,383.75 shares directly. Additionally, he maintains an indirect ownership of 86,000 shares through a grantor retained annuity trust. InvestingPro offers 20+ additional exclusive insights about Tesla’s valuation and financial health, available in the comprehensive Pro Research Report.
In other recent news, Tesla has signed a lease agreement to open its first showroom in Mumbai, India, as part of its strategy to sell imported cars in the country. The lease, beginning in February 2025, involves a five-year commitment with an initial annual rent of approximately $446,000, escalating to about $542,000 by the fifth year. This development follows a meeting between Tesla’s CEO Elon Musk and India’s Prime Minister Narendra Modi. Meanwhile, Tesla reported a significant 49.2% decline in sales of its China-made electric vehicles for February compared to the previous year, with only 30,688 units sold according to the China Passenger Car Association. This drop contrasts sharply with the performance of Chinese competitor BYD (SZ:002594), which saw a 161.4% increase in sales during the same period. Additionally, Fitch Ratings confirmed a Stable Outlook for Tesla Auto Lease Trust 2024-A’s class A notes and a Positive Outlook for class B notes, citing strong credit enhancement and residual value performance. The U.S. is also urging India to reduce auto import tariffs to zero, a move that could benefit Tesla as it prepares for its India launch.
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