Rep. Josh Gottheimer Acquires Tesla, Inc. (NASDAQ:TSLA) Shares

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Tesla, Inc. (NASDAQ:TSLA). In a filing disclosed on December 05th, the Representative disclosed that they had bought between $1,001 and $15,000 in Tesla stock on November 26th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/29/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/27/2024.
• Sold $1,001 – $15,000 in shares of Netflix (NASDAQ:NFLX) on 11/27/2024.
• Sold $1,001 – $15,000 in shares of Vertiv (NYSE:VRT) on 11/27/2024.
• Purchased $1,001 – $15,000 in shares of Dominion Energy (NYSE:D) on 11/26/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/26/2024.
• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 11/25/2024.
• Sold $1,001 – $15,000 in shares of ConocoPhillips (NYSE:COP) on 11/22/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 11/22/2024.
• Purchased $1,001 – $15,000 in shares of Natera (NASDAQ:NTRA) on 11/20/2024.

Tesla Trading Up 5.3 %

Shares of NASDAQ:TSLA opened at $389.22 on Friday. The stock has a market cap of $1.25 trillion, a PE ratio of 106.64, a P/E/G ratio of 11.62 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $389.49. The business has a 50 day moving average of $282.96 and a 200-day moving average of $236.89.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently modified their holdings of the stock. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Oppenheimer & Co. Inc. grew its position in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management raised its stake in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Tesla by 187.0% in the third quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock worth $189,756,000 after acquiring an additional 472,565 shares during the period. Finally, Savvy Advisors Inc. increased its position in Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after acquiring an additional 1,467 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 520,280 shares of company stock worth $170,418,640 in the last three months. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $245.84.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.