Sen. Sheldon Whitehouse Sells Off Shares of Tesla, Inc. (NASDAQ:TSLA)

Senator Sheldon Whitehouse (D-Rhode Island) recently sold shares of Tesla, Inc. (NASDAQ:TSLA). In a filing disclosed on November 07th, the Senator disclosed that they had sold between $15,001 and $50,000 in Tesla stock on October 11th.

Senator Sheldon Whitehouse also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 10/30/2024.
• Sold $1,001 – $15,000 in shares of Starbucks (NASDAQ:SBUX) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Walt Disney (NYSE:DIS) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Verizon Communications (NYSE:VZ) on 10/29/2024.
• Sold $100,001 – $250,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $1,001 – $15,000 in shares of Celsius (NASDAQ:CELH) on 10/8/2024.
• Purchased $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 10/8/2024.

Tesla Stock Performance

NASDAQ TSLA opened at $296.91 on Friday. The company has a market cap of $953.10 billion, a PE ratio of 81.35, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The stock’s 50 day simple moving average is $237.23 and its 200-day simple moving average is $213.07. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.75. 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 data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSLA. China Universal Asset Management Co. Ltd. increased its holdings in shares of Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after acquiring an additional 331 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Tesla by 4.5% in the 1st quarter. Empirical Finance LLC now owns 78,230 shares of the electric vehicle producer’s stock valued at $13,752,000 after purchasing an additional 3,395 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Tesla by 23.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 75,851 shares of the electric vehicle producer’s stock valued at $13,334,000 after purchasing an additional 14,191 shares during the period. Motive Wealth Advisors boosted its position in shares of Tesla by 174.1% in the 1st quarter. Motive Wealth Advisors now owns 3,843 shares of the electric vehicle producer’s stock valued at $676,000 after purchasing an additional 2,441 shares during the period. Finally, AIA Group Ltd boosted its position in shares of Tesla by 3.4% in the 1st quarter. AIA Group Ltd now owns 74,754 shares of the electric vehicle producer’s stock valued at $13,141,000 after purchasing an additional 2,484 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 in the last three months. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $222.03.

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

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.