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Tesla, Inc. (NASDAQ:TSLA) director Ira Ehrenpreis recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On May 27, Ehrenpreis sold a total of 318,362 shares of Tesla common stock, generating approximately $170.6 million. The shares were sold at prices ranging from $347.61 to $363.236 per share. The transactions come as Tesla, currently valued at $1.15 trillion with a P/E ratio of 187, maintains a "GOOD" financial health rating according to InvestingPro analysis.
In addition to these sales, Ehrenpreis acquired 761,961 shares through the exercise of stock options. These options were exercised at prices between $22.86 and $24.73 per share, totaling approximately $18.17 million. The transactions were conducted under a pre-established Rule 10b5-1 trading plan, which was set up to facilitate the orderly liquidation of options set to expire in 2025.
Following these transactions, Ehrenpreis holds 855,394 shares of Tesla common stock, maintaining a significant stake in the company.
In other recent news, Tesla has announced the upcoming delivery of its first self-driving Model Y vehicles in June, ahead of the original schedule. CEO Elon Musk confirmed that testing of these autonomous vehicles has been ongoing in Austin, with no incidents reported. Meanwhile, analyst firm TD Cowen has reaffirmed its Buy rating on Tesla, maintaining a price target of $330, citing the company’s advancements in autonomous vehicle technology as a potential disruptor in the consumer market. Cantor Fitzgerald also reiterated an Overweight rating with a $355 price target, highlighting Tesla’s plans to deploy fully autonomous robotaxis in Austin by the end of June.
Additionally, Gary Black from The Future Fund LLC has sold his Tesla shares, citing concerns over valuation and declining earnings estimates. Black noted a projected decline in Tesla deliveries for 2025, which he believes could be more significant than Wall Street’s current estimates. Despite these concerns, Black maintains a 6-12 month price target of $310 for Tesla shares. He also expressed skepticism about Tesla’s upcoming affordable vehicle, speculating it might be a stripped-down version of the Model Y rather than a new design. These developments continue to shape investor perspectives on Tesla’s future prospects.
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