Josh Gottheimer Acquires Tesla Shares

Recently, Representative Josh Gottheimer, a Democrat from New Jersey, disclosed that he purchased shares of Tesla, Inc. (NASDAQ:TSLA). In a filing made public on December 5th, 2024, it was revealed that he acquired Tesla stock worth between $1,001 and $15,000 on November 20th, 2024. This transaction took place in his "MORGAN STANLEY – SELECT UMA ACCOUNT # 1" account.

In addition to his Tesla investment, Gottheimer made several other trades recently:

• Sold shares of Regeneron Pharmaceuticals (NASDAQ:REGN) valued between $1,001 and $15,000 on November 29, 2024.
• Purchased Tesla shares priced between $1,001 and $15,000 on November 27, 2024.
• Sold shares of Netflix (NASDAQ:NFLX) worth between $1,001 and $15,000 on November 27, 2024.
• Sold shares of Vertiv (NYSE:VRT) valued between $1,001 and $15,000 on November 27, 2024.
• Purchased additional Tesla shares valued between $1,001 and $15,000 on November 26, 2024.
• Purchased shares of Dominion Energy (NYSE:D) worth between $1,001 and $15,000 on November 26, 2024.
• Acquired Johnson & Johnson (NYSE:JNJ) shares priced between $1,001 and $15,000 on November 26, 2024.
• Sold shares of Eaton (NYSE:ETN) valued between $1,001 and $15,000 on November 25, 2024.
• Sold shares of ConocoPhillips (NYSE:COP) worth between $1,001 and $15,000 on November 22, 2024.
• Purchased additional Johnson & Johnson shares valued between $1,001 and $15,000 on November 22, 2024.

Tesla Stock Overview

Tesla, as of Friday, had its stock open at $389.22. The company's financial health is represented by a debt-to-equity ratio of 0.08 and a current ratio of 1.84. Tesla's market capitalization stands at $1.25 trillion, with a PE ratio of 106.64 and a beta of 2.36. Over the past year, Tesla's stock has seen a low of $138.80 and a high of $389.49.

In its most recent earnings report issued on October 23rd, Tesla reported earnings per share of $0.72, surpassing analysts' expectations of $0.58. The company's revenue totaled $25.18 billion during the quarter, slightly below analyst predictions of $25.47 billion. This represents a year-over-year revenue increase of 7.8%, and analysts predict Tesla will post an earnings per share of 1.99 for the current year.

Institutional Involvement in Tesla

Several institutional investors have made significant moves regarding Tesla shares recently. Boulder Wealth Advisors LLC acquired a new stake in Tesla worth approximately $232,000 in the third quarter. Meanwhile, Oriental Harbor Investment Fund bought a new position in Tesla worth $14.7 million during the same period. Inspire Trust Co. N.A. increased its holdings in Tesla by 23.3% in the third quarter, owning a total of 8,200 shares valued at $2.15 million. Beaird Harris Wealth Management LLC significantly boosted its position in Tesla by over 1,000%, now holding 25,949 shares valued at $6.79 million.

Insider Activity

In recent insider trades, Tesla Director Kathleen Wilson-Thompson sold 100,000 shares at an average price of $346.02, totaling approximately $34.6 million. After this sale, her holdings decreased to 5,400 shares valued at about $1.87 million. Additionally, CFO Vaibhav Taneja sold 4,000 shares at $250.00, amounting to $1 million, which resulted in a 3.67% reduction in his holdings. Over the past three months, insiders have sold a total of 520,280 shares, valued at roughly $170.4 million. Insiders collectively own 20.7% of Tesla's stock.

Analyst Ratings on TSLA

Tesla's stock has attracted numerous analysts, with varied ratings. Jefferies Financial Group recently raised their price target from $195.00 to $300.00, giving Tesla a "hold" rating. Conversely, Glj Research reiterated a "sell" rating with a price target set at $24.86. Wolfe Research initiated coverage on Tesla with a "peer perform" rating, while Phillip Securities adjusted their rating from "moderate sell" to "strong sell". Overall, market analysts provide a mix of ratings, with 9 sell ratings, 16 hold ratings, 15 buy ratings, and one strong buy rating. The consensus price target for Tesla is $245.84 and is classified as a "hold" by many analysts.

About Josh Gottheimer

Josh Gottheimer has been serving as a member of the U.S. House of Representatives since January 3, 2017, representing New Jersey's 5th Congressional District. He is currently running for re-election for the 2024 election. Before entering Congress, Gottheimer worked for various organizations, including Microsoft and the Federal Communications Commission, and he also served under President Bill Clinton. He is a member of the House Financial Services Committee and has been actively involved in the Problem Solvers Caucus since its formation.

About Tesla, Inc.

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles and energy systems globally. The company's two primary segments are Automotive and Energy Generation and Storage, focusing on electric vehicles and energy solutions.

Conclusion

The trades made by Representative Gottheimer highlight the investor interest in Tesla amidst fluctuating stock performance and insights from analysts. His recent activities, along with ongoing institutional investments, indicate a diverse range of perspectives on the direction of Tesla’s future.

Tesla, Gottheimer, Investments