Tesla Inc. [TSLA] Insider Selling: Time to sell?


Tesla Inc.’s recently made public that its SVP Powertrain and Energy Eng. Baglino Andrew D unloaded Company’s shares for reported $2.55 million on Aug 28. In the deal valued at $242.53 per share,10,500 shares were sold. As a result of this transaction, Baglino Andrew D now holds 66,834 shares worth roughly $ 17.14 million.

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Then, Taneja Vaibhav sold 4,000 shares, generating $1,044,000 in total proceeds. Upon selling the shares at $261.00, the CFO and CAO now owns 104,504 shares.

Before that, Kirkhorn Zachary sold 3,750 shares. Tesla Inc. shares valued at $978,750 were divested by the Chief Financial Officer at a price of $261.00 per share. As a result of the transaction, Kirkhorn Zachary now holds 193,790 shares, worth roughly $49.71 million.

UBS downgraded its Tesla Inc. [TSLA] rating to a Neutral from a a Buy in a research note published on Tuesday, July 24, 2023; the price target was increased to $270 from $220. PT values the company’s stock at a premium of 5.0 to its Tuesday closing price.

Price Performance Review of TSLA

On Tuesday, Tesla Inc. [NASDAQ:TSLA] saw its stock jump 4.69% to $256.49. On the same session, the stock had its day’s lowest price of $244.86, but rose to a high of $258.00. Over the last five days, the stock has gained 7.40%. Tesla Inc. shares have risen nearly 108.22% since the year began. Nevertheless, the stocks have fallen -7.46% over the past one year. While a 52-week high of $313.80 was reached on 07/19/23, a 52-week low of $101.81 was recorded on 01/06/23. SMA at 50 days reached $256.24, while 200 days put it at $198.92. A total of 129.1 million shares were traded, compared to the trading of 132.54 million shares in the previous session.

Levels Of Support And Resistance For TSLA Stock

The 24-hour chart illustrates a support level at 248.23, which if violated will result in even more drops to 239.98. On the upside, there is a resistance level at 261.37. A further resistance level may holdings at 266.26. The Relative Strength Index (RSI) on the 14-day chart is 55.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 14.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.61%. Stochastics %K at 74.72% indicates the stock is a holding.

How much short interest is there in Tesla Inc.?

A steep rise in short interest was recorded in Tesla Inc. stocks on Aug 14, 2023, dropping by -11.24 million shares to a total of 81.76 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 93.0 million shares. There was a decline of -13.75%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.96% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.73.

Tesla Inc. [TSLA] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 211,087,099 shares, or roughly 6.65% of the outstanding TSLA shares. In other words, the investor’s shares have risen by 1,799,558 from its previous 13-F filing of 209287541.0. Additionally, BlackRock Fund Advisors increased 3.35% of its stake after which the total value it holdings stand at $31,130,012,914, while SSgA Funds Management, Inc. added 4.45% of its stake to hold $27.84 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 1,608,559 shares of Tesla Inc., while Capital Research & Management Co bought -1,487,689 shares. At present, Norges Bank Investment Management is holding 28,085,245 shares valued at $7.51 billion. T. Rowe Price Associates, Inc. owned 24,356,140 shares of the company at the time of its most recent 13F filing, worth $6.51 billion.

According to FactSet, Tesla Inc.’s share price will average $253.74 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.24 percent from its previous closing price of $245.01. Analysts expect Tesla Inc. stock to reach the higher price of $350.00, while the lowest price estimate is $85.00. However, 44 analysts have rated TSLA stock as a Hold in their predictions for 2023.


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