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

On December 20th, it was revealed that Representative Michael Guest (R-Mississippi) has recently acquired shares of Tesla, Inc. (NASDAQ:TSLA). The filing disclosed that Guest purchased between $1,001 and $15,000 worth of Tesla stock on November 8th. This transaction was executed in the Representative's “TR – D1” account.

Additionally, on the same day, Representative Michael Guest made several other trades:

• He bought shares of Amazon.com (NASDAQ:AMZN) valued between $1,001 and $15,000 on November 8, 2024.
• He also purchased between $1,001 and $15,000 worth of monday.com (NASDAQ:MNDY) shares on November 8, 2024.

Tesla Stock Insights

As of the last trading session, TSLA stock opened at $430.60. Tesla has experienced a 52-week low of $138.80 and a high of $488.54. The company maintains a quick ratio of 1.37 and a current ratio of 1.84, showing strong short-term liquidity, with a commendable debt-to-equity ratio of 0.08. The 50-day moving average for Tesla's stock stands at $322.89, while the 200-day moving average is $257.05. Tesla's market capitalization is approximately $1.38 trillion, with a PE ratio of 117.97 and a price-to-earnings growth ratio of 10.80. The stock’s beta is reported at 2.36.

Tesla's latest quarterly earnings report was released on October 23rd, where it was announced that the company earned $0.72 per share, surpassing the consensus estimate of $0.58 by $0.14. The reported revenue for the quarter totaled $25.18 billion, slightly lower than analysts' predictions of $25.47 billion. Furthermore, Tesla reported a net margin of 13.07% and a return on equity of 10.24%, with a year-over-year revenue increase of 7.8% compared to the same quarter prior year. Analysts forecast an EPS of 1.99 for Tesla for the current year.

Recent Insider Actions

In related news, Director Kathleen Wilson-Thompson executed a notable sale of 100,000 shares of Tesla on November 11, which was completed at an average price of $346.02, totaling about $34.6 million. Following this transaction, she retains ownership of 5,400 shares valued at approximately $1.87 million. This sale indicates a 94.88% decline in her stock ownership. The transaction has been duly filed with the SEC. Furthermore, CFO Vaibhav Taneja sold 4,000 shares on November 1 at an average price of $251.76, equating to roughly $1 million in value. After this sale, he has 105,032 shares worth approximately $26.44 million, marking a 3.67% reduction in his ownership. In total, over the past quarter, insiders have sold 514,886 shares valued at about $169.39 million, with corporate insiders currently holding 20.70% of Tesla's stock.

Analysts' Projections for Tesla

Several financial institutions have recently updated their outlook on Tesla. Robert W. Baird has raised its price target for Tesla from $280.00 to $480.00 while recommending the stock as “outperform” in their December 18 report. In contrast, Wells Fargo & Company adjusted its target from $120.00 to $125.00, rating the stock as “underweight”. KGI Securities elevated Tesla’s rating from “neutral” to “outperform,” setting their target price at $276.00. Canaccord Genuity increased its price objective for Tesla from $254.00 to $278.00 and issued a “buy” rating, while Cantor Fitzgerald also raised its price target from $255.00 to $365.00, giving the stock a “neutral” rating. Current evaluations suggest that among analysts, there are nine sell ratings, fifteen holds, sixteen buys, and one strong buy, leading to an average rating of “Hold” with a consensus target price of $272.06 according to MarketBeat.com.

Institutional Investor Movements

Recent changes in holdings by institutional investors regarding Tesla showcase a varied interest. Valley Wealth Managers Inc. established a new stake during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its Tesla stake by 168.8% in the same quarter, owning 129 shares now valued at $26,000 after adding 81 shares. Several other investors, including Transcendent Capital Group LLC and Clean Yield Group, have also made significant adjustments to their stakes recently in Tesla shares. Currently, hedge funds and institutional investors hold about 66.20% of the company’s stock.

Background on Representative Guest

Michael Guest, a member of the Republican Party, represents Mississippi’s 3rd Congressional District in the U.S. House of Representatives. Guest began his term on January 3, 2019, and it is set to end on January 3, 2025. He won his last election on November 8, 2022. He earned his bachelor’s degree from Mississippi State University in 1992 and completed his J.D. at the University of Mississippi in 1995. Subsequently, he served as an assistant district attorney in Madison and Rankin counties until 2007 and was elected as district attorney for these counties in 2007. He won the seat in Congress by defeating Democrat Michael Evans in 2018, succeeding Republican incumbent Gregg Harper.

Overview of Tesla

Tesla, Inc. specializes in designing, developing, manufacturing, renting, and selling electric vehicles, along with energy generation and storage systems, and operates in the U.S., China, and other international markets. Tesla operates primarily in two segments: Automotive, focusing on electric vehicles and selling automotive regulatory credits, and Energy Generation and Storage, which includes various energy products.

Michael, Guest, Tesla