Rep. Michael Guest Purchases Shares of Tesla, Inc. (NASDAQ:TSLA)

Representative Michael Guest (R-Mississippi) recently bought shares of Tesla, Inc. (NASDAQ:TSLA). In a filing disclosed on December 20th, the Representative disclosed that they had bought between $1,001 and $15,000 in Tesla stock on November 8th. The trade occurred in the Representative’s “TR – D1” account.

Representative Michael Guest also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of monday.com (NASDAQ:MNDY) on 11/8/2024.

Tesla Stock Performance

TSLA stock opened at $430.60 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s 50-day moving average price is $322.89 and its two-hundred day moving average price is $257.05. The firm has a market cap of $1.38 trillion, a PE ratio of 117.97, a P/E/G ratio of 10.80 and a beta of 2.36. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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

Hedge Funds Weigh In On Tesla

Several hedge funds have recently made changes to their positions in TSLA. International Assets Investment Management LLC increased its holdings in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP boosted its position in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC raised its position in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP boosted its position in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. Truist Financial upped their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $272.06.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 transaction, the director now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is owned by corporate insiders.

About Representative Guest

Michael Guest (Republican Party) is a member of the U.S. House, representing Mississippi’s 3rd Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Guest (Republican Party) ran for re-election to the U.S. House to represent Mississippi’s 3rd Congressional District. He won in the general election on November 8, 2022. Guest received his bachelor’s degree from Mississippi State University in 1992. He received his J.D. from the University of Mississippi in 1995. He served as an assistant district attorney for Madison and Rankin counties in Mississippi from 1995 to 2007. He was elected district attorney of these counties in 2007. In 2018, Guest defeated Michael Evans (D) to replace outgoing incumbent Gregg Harper (R).

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.