Tesla’s (TSLA) chief financial officer (CFO) has been selling company stock.
CFO Vaibhav Taneja recently sold 3,000 shares of Tesla stock, reportedly for tax purposes. Taneja still owns 130,000 Tesla shares, including indirect holdings.
The latest stock sales by Taneja raised about $1.3 million U.S. The sale was executed with Tesla’s share price at $450 U.S., near a recent high.
Tesla shares were just over $450 U.S. in recent weeks before dropping 4.7% on May 15 amid a broad market selloff, leaving them down 1.4% over the past week.
The stock had been rising in recent weeks on expectations for the company to gain approval to sell its Full Self Driving (FSD) feature in China.
Tesla’s FSD can do most of the driving most of the time. Americans pay $99 U.S. a month for the service, and Tesla currently has 1.3 million subscribers.
Still, TSLA stock has been volatile this year and is down 4% since January. Shares are currently trading at $422.24 U.S. per share.
