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 Trading Up 5.3 %

TSLA opened at $389.22 on Friday. The firm’s fifty day moving average is $285.53 and its two-hundred day moving average is $238.74. The firm has a market cap of $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $389.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS 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 business 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 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 520,280 shares of company stock valued at $170,418,640. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. lifted its stake in shares of Tesla by 50.7% during the 2nd quarter. NBC Securities Inc. now owns 4,361 shares of the electric vehicle producer’s stock worth $862,000 after buying an additional 1,467 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its position in Tesla by 7.4% during the second quarter. Canandaigua National Bank & Trust Co. now owns 1,314 shares of the electric vehicle producer’s stock worth $260,000 after acquiring an additional 90 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Tesla by 8.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,205 shares of the electric vehicle producer’s stock worth $1,624,000 after acquiring an additional 659 shares during the period. BDF Gestion acquired a new position in shares of Tesla in the second quarter valued at approximately $9,459,000. Finally, CCM Investment Advisers LLC increased its stake in shares of Tesla by 1.4% during the second quarter. CCM Investment Advisers LLC now owns 36,749 shares of the electric vehicle producer’s stock worth $7,272,000 after purchasing an additional 508 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $245.84.

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.