Rep. Josh Gottheimer Buys Tesla, Inc. (NASDAQ:TSLA) Stock

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 11th. 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 Price Performance

Shares of NASDAQ:TSLA traded up $19.73 during midday trading on Friday, hitting $389.22. The company's stock had a trading volume of 80,405,602 shares, compared to its average volume of 95,906,000. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $389.49. The company has a market cap of $1.25 trillion, a P/E ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business's 50 day simple moving average is $285.53 and its 200 day simple moving average is $238.74.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth about $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter worth $35,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Sanford C. Bernstein restated an "underperform" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Guggenheim boosted their price objective on Tesla from $156.00 to $175.00 and gave the company a "sell" rating in a report on Thursday. Piper Sandler increased their target price on Tesla from $310.00 to $315.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $245.84.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 520,280 shares of company stock valued at $170,418,640. Insiders own 20.70% of the company's stock.

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.