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

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 5.0 %

NASDAQ TSLA traded up $21.61 on Tuesday, reaching $452.21. The company had a trading volume of 37,111,160 shares, compared to its average volume of 95,064,461. 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 $1.45 trillion, a price-to-earnings ratio of 123.89, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company’s fifty day moving average is $327.11 and its 200-day moving average is $258.83.

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, topping 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 previous year, the business earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Morgan Stanley lifted their price objective on shares of Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. KGI Securities upgraded shares of 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 increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $272.06.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its position 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 worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at about $29,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter valued at approximately $35,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, 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 transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 514,886 shares of company stock valued at $169,393,831. Company insiders own 20.70% of the company’s stock.

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.