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

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 12th. 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 Tesla (NASDAQ:TSLA) on 11/26/2024.
• 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.

Tesla Stock Up 5.3 %

Tesla stock opened at $389.22 on Friday. The firm has a market capitalization 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’s 50-day moving average is $282.96 and its 200-day moving average is $236.89. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $389.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of TSLA. Connable Office Inc. boosted its stake in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares in the last quarter. Community Bank N.A. boosted its stake in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners boosted its stake in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after acquiring an additional 40 shares in the last quarter. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares in the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc boosted its stake in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Bank of America upped their price target on shares of Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $245.84.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction 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. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 520,280 shares of company stock valued at $170,418,640 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

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.

About Tesla

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.