Rep. Josh Gottheimer Buys 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 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 Performance

Shares of TSLA stock traded up $19.73 on Friday, hitting $389.22. 80,405,602 shares of the stock traded hands, compared to its average volume of 95,906,000. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a PEG ratio of 11.62 and a beta of 2.36. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $389.49. The company’s fifty day moving average is $282.96 and its 200 day moving average is $236.89.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 520,280 shares of company stock valued at $170,418,640 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price target on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $245.84.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently bought and sold shares of the business. Boulder Wealth Advisors LLC purchased a new stake in Tesla in the 3rd quarter worth about $232,000. Oriental Harbor Investment Fund purchased a new stake in Tesla in the 3rd quarter worth about $14,700,000. Inspire Trust Co. N.A. lifted its stake in Tesla by 23.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock worth $2,145,000 after acquiring an additional 1,548 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Tesla by 1,089.8% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock worth $6,789,000 after acquiring an additional 23,768 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Tesla by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock worth $1,035,577,000 after acquiring an additional 300,951 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.