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 January 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Tesla stock on December 3rd. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Block (NYSE:SQ) on 12/30/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 12/30/2024.
• Sold $1,001 – $15,000 in shares of Ambev (NYSE:ABEV) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Grupo Financiero Banorte (OTCMKTS:GBOOY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Cadre (NYSE:CDRE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Coloplast A/S (OTCMKTS:CLPBY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Intuitive Surgical (NASDAQ:ISRG) on 12/23/2024.
• Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 12/23/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/19/2024.

Tesla Price Performance

Shares of Tesla stock opened at $428.22 on Thursday. The company’s fifty day simple moving average is $382.71 and its two-hundred day simple moving average is $284.69. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market cap of $1.37 trillion, a PE ratio of 117.32, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. 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 announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. Cantor Fitzgerald lifted their price target on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. HSBC restated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and increased their target price for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley increased their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $299.33.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on 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. Over the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter worth $29,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 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.

Tesla Company Profile

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.