Rep. Michael Guest Buys Tesla, Inc. (NASDAQ:TSLA) Stock

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 Up 2.3 %

TSLA 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 stock has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 117.97, a P/E/G ratio of 10.80 and a beta of 2.36. The business has a 50 day moving average of $322.89 and a 200-day moving average of $257.05. 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 released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 period in the previous year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $272.06.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 514,886 shares of company stock worth $169,393,831 over the last quarter. 20.70% of the stock is currently owned by insiders.

Institutional Trading of Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new position in shares of Tesla during the 2nd quarter worth about $42,000. Family Firm Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at approximately $70,000. LRI Investments LLC grew its stake in shares of Tesla by 217.4% in the second quarter. LRI Investments LLC now owns 1,809 shares of the electric vehicle producer’s stock valued at $358,000 after buying an additional 1,239 shares in the last quarter. McAdam LLC increased its holdings in Tesla by 5.5% during the second quarter. McAdam LLC now owns 7,132 shares of the electric vehicle producer’s stock worth $1,411,000 after buying an additional 369 shares during the last quarter. Finally, Atlantic Union Bankshares Corp raised its position in Tesla by 0.7% during the second quarter. Atlantic Union Bankshares Corp now owns 13,649 shares of the electric vehicle producer’s stock worth $2,701,000 after acquiring an additional 93 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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).

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.