Evoke Wealth LLC Acquires 1,915 Shares of Tesla, Inc. (NASDAQ:TSLA)

Evoke Wealth LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,348 shares of the electric vehicle producer’s stock after buying an additional 1,915 shares during the period. Evoke Wealth LLC’s holdings in Tesla were worth $6,198,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla in the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. acquired a new position in Tesla during the fourth quarter worth $47,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in Tesla in the fourth quarter valued at $55,000. Finally, Finley Financial LLC bought a new position in shares of Tesla in the 4th quarter valued at about $64,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 4.8 %

Shares of NASDAQ TSLA opened at $238.01 on Tuesday. The stock has a 50-day moving average price of $347.85 and a two-hundred day moving average price of $320.53. The company has a market cap of $765.56 billion, a price-to-earnings ratio of 116.67, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. Roth Mkm upgraded 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. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday. Finally, Morgan Stanley reiterated a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a report on Monday, March 3rd. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $323.00.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

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.