Tesla, Inc. (NASDAQ:TSLA) Chief Financial Officer Vaibhav Taneja recently reported significant stock transactions, according to a filing with the Securities and Exchange Commission. On December 2, Taneja sold a total of 7,000 shares of Tesla's common stock, generating proceeds of approximately $2.48 million. The shares were sold at prices ranging from $352.698 to $359.94. The transaction comes as Tesla, now valued at $1.15 trillion, trades near its 52-week high of $361.93. According to InvestingPro analysis, the stock has shown remarkable strength with a 104% gain over the past six months.
In addition to these sales, Taneja exercised options to acquire 7,000 shares of Tesla stock at a price of $18.22 per share. This transaction was executed as part of a previously established Rule 10b5-1 trading plan.
Following these transactions, Taneja holds 105,032.25 shares of Tesla common stock.
In other recent news, Tesla has been the subject of several analyst ratings. Roth/MKM upgraded Tesla's stock from Neutral to Buy, citing growing enthusiasm for electric vehicles and a favorable regulatory environment. The company's robust financial performance, with $97.15 billion in revenue over the last twelve months, likely contributed to this upgrade. On the other hand, Bernstein maintained its Underperform rating on Tesla due to considerable risks associated with Tesla's strategy to develop a dedicated 'Cybercab'.
In legal developments, Tesla and JPMorgan Chase (NYSE:JPM) & Co. have mutually agreed to drop their ongoing lawsuit, which centered around a 2014 stock warrant transaction and a tweet from Tesla CEO Elon Musk. The details of any settlement reached were not disclosed.
In technology and regulatory developments, Tesla's co-founded company, Neuralink, has initiated the CONVOY Study, aiming to integrate brain-computer interface technology with an assistive robotic arm. California Governor Gavin Newsom announced plans to potentially reinstate the state's Clean Vehicle Rebate program, but Tesla might be excluded from the new state rebates, which could impact the company's operations in the state.
These are the recent developments impacting Tesla.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.