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

Shares of TSLA stock opened at $430.60 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $322.89 and its 200 day moving average price is $257.05. The stock has a market capitalization of $1.38 trillion, a PE ratio of 117.97, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36.

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, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. 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 quarter, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Robert W. Baird increased their price target on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Canaccord Genuity Group boosted 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, Cantor Fitzgerald boosted their target price on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $272.06.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.