Tesla (NASDAQ:TSLA) Shares Unloaded Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Tesla, Inc. (NASDAQ:TSLA). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Tesla stock on October 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):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Tesla Price Performance

Shares of TSLA opened at $296.91 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a 50-day simple moving average of $237.23 and a two-hundred day simple moving average of $213.07. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.75. The stock has a market cap of $953.10 billion, a PE ratio of 81.35, a P/E/G ratio of 9.51 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results 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. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of Tesla by 6.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after acquiring an additional 2,664 shares during the period. Morse Asset Management Inc boosted its position in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,797 shares of company stock valued at $19,211,821 over the last quarter. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim boosted their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Tesla in a report on Friday, October 11th. Citigroup dropped their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Canaccord Genuity Group increased 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. Finally, Wells Fargo & Company boosted 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. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $222.03.

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.