Sen. Sheldon Whitehouse Sells Off Shares of Tesla, Inc. (NASDAQ:TSLA)

Senator Sheldon Whitehouse (D-Rhode Island) recently sold shares of Tesla, Inc. (NASDAQ:TSLA). In a filing disclosed on November 07th, the Senator disclosed that they had sold between $15,001 and $50,000 in Tesla stock on October 11th.

Senator Sheldon Whitehouse also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 10/30/2024.
• Sold $1,001 – $15,000 in shares of Starbucks (NASDAQ:SBUX) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Walt Disney (NYSE:DIS) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Verizon Communications (NYSE:VZ) on 10/29/2024.
• Sold $100,001 – $250,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $1,001 – $15,000 in shares of Celsius (NASDAQ:CELH) on 10/8/2024.
• Purchased $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 10/8/2024.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $321.22 on Friday. The company’s fifty day moving average is $241.18 and its two-hundred day moving average is $214.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 88.01, a PEG ratio of 9.51 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $328.71.

Tesla (NASDAQ:TSLA) last issued its 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. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after buying an additional 331 shares during the period. Empirical Finance LLC lifted its position in shares of Tesla by 4.5% during the first quarter. Empirical Finance LLC now owns 78,230 shares of the electric vehicle producer’s stock worth $13,752,000 after purchasing an additional 3,395 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Tesla by 23.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 75,851 shares of the electric vehicle producer’s stock valued at $13,334,000 after purchasing an additional 14,191 shares during the period. Motive Wealth Advisors grew its holdings in Tesla by 174.1% during the 1st quarter. Motive Wealth Advisors now owns 3,843 shares of the electric vehicle producer’s stock valued at $676,000 after purchasing an additional 2,441 shares in the last quarter. Finally, AIA Group Ltd increased its stake in Tesla by 3.4% during the 1st quarter. AIA Group Ltd now owns 74,754 shares of the electric vehicle producer’s stock worth $13,141,000 after buying an additional 2,484 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLA shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $222.03.

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

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.