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 14th. 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 %

NASDAQ TSLA opened at $389.22 on Friday. The firm has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a P/E/G ratio of 11.62 and a beta of 2.36. The stock’s 50 day moving average is $285.53 and its 200 day moving average is $238.74. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $389.49. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSLA. Bank of America raised their target price on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. 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. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $245.84.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were 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 owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,280 shares of company stock worth $170,418,640. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Boulder Wealth Advisors LLC purchased a new stake in Tesla in the 3rd quarter worth approximately $232,000. Oriental Harbor Investment Fund purchased a new stake in shares of Tesla in the third quarter worth $14,700,000. Inspire Trust Co. N.A. raised its position in shares of Tesla by 23.3% during the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock valued at $2,145,000 after purchasing an additional 1,548 shares during the period. Beaird Harris Wealth Management LLC lifted its stake in shares of Tesla by 1,089.8% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock valued at $6,789,000 after buying an additional 23,768 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings 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 buying an additional 300,951 shares during the period. 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.