Tesla’s (NASDAQ:TSLA) former executive, Drew Baglino, sold around $181.5 million worth of the EV major’s shares, according to an SEC filing. Baglino had announced his resignation earlier this month.
According to this filing, Baglino sold around 1.14 million of his shares through the exercise of stock options, with an “approximate date of sale” of April 25. Baglino had joined Tesla in 2006 and announced his departure from the company through a post on X.
TSLA is undergoing major restructuring and announced that it was laying off 10% of its global workforce earlier this month.
Is Tesla a Buy, Sell, or Hold?
Analysts remain sidelined about TSLA stock, with a Hold consensus rating based on eight Buys, 19 Holds, and eight Sells. Year-to-date, TSLA has declined by more than 30%, and the average TSLA price target of $177.30 implies an upside potential of 4.2% from current levels.
