Evoke Wealth LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,470 shares of the electric vehicle producer’s stock after buying an additional 1,448 shares during the quarter. Evoke Wealth LLC’s holdings in Tesla were worth $7,407,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in TSLA. Chapman Financial Group LLC purchased a new stake in shares of Tesla during the 2nd quarter valued at about $26,000. Networth Advisors LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $26,000. Davidson Capital Management Inc. boosted its holdings in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 27 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter valued at about $30,000. Finally, Prism Advisors Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on TSLA shares. Mizuho dropped their price target on shares of Tesla from $540.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Jefferies Financial Group restated a “neutral” rating on shares of Tesla in a research report on Wednesday, April 22nd. Truist Financial cut their target price on shares of Tesla from $438.00 to $400.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Tuesday, April 21st. Finally, Barclays restated a “neutral” rating on shares of Tesla in a research report on Wednesday, May 13th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $395.20.
Tesla Price Performance
Shares of NASDAQ:TSLA opened at $426.01 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. Tesla, Inc. has a 1-year low of $273.21 and a 1-year high of $498.83. The company has a market capitalization of $1.60 trillion, a P/E ratio of 390.83, a P/E/G ratio of 16.50 and a beta of 1.79. The firm’s 50 day simple moving average is $387.76 and its two-hundred day simple moving average is $416.91.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.2 EPS for the current fiscal year.
Insider Activity at Tesla
In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares of the company’s stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 83,213 shares of company stock worth $32,201,105 in the last ninety days. Insiders own 19.90% of the company’s stock.
Key Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s Full Self-Driving rollout in China and subscription-based FSD availability in Europe bolster the case that autonomy could become a bigger growth driver. Article Title
- Positive Sentiment: Some analysts and commentators continue to frame Tesla as a robotics and AI company, with bullish chatter around Optimus and the company’s long-term pivot away from being just an automaker. Article Title
- Neutral Sentiment: SpaceX’s IPO has dominated investor attention, and while it highlights Musk’s ecosystem, the market is debating whether it will ultimately help Tesla or distract capital and attention away from TSLA. Article Title
- Negative Sentiment: Reuters reported Tesla is recalling 14,575 Model Y SUVs in the U.S. over a missing weight certification label, adding another quality-control issue to the stock’s recent concerns. Article Title
- Negative Sentiment: Several articles warn that Tesla’s valuation remains stretched and that FSD still faces execution questions, with critics saying the technology is not yet ready to justify the stock’s premium. Article Title
About Tesla
Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.
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