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 28th.

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 10/11/2024.
• 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 current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $237.23 and a two-hundred day moving average price of $213.07. The company has a market capitalization of $953.10 billion, a P/E ratio of 81.35, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.75.

Tesla (NASDAQ:TSLA) last released 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 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 prior year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Tesla

Hedge funds have recently added to or reduced their stakes in the business. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC lifted its position 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 acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth $29,000. Finally, Clean Yield Group increased its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Guggenheim raised their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $222.03.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock valued at $19,211,821 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.