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

Evoke Wealth LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,348 shares of the electric vehicle producer’s stock after acquiring an additional 1,915 shares during the quarter. Evoke Wealth LLC’s holdings in Tesla were worth $6,198,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Horizon Investments LLC increased its holdings in Tesla by 24.1% in the fourth quarter. Horizon Investments LLC now owns 65,409 shares of the electric vehicle producer’s stock worth $26,415,000 after purchasing an additional 12,710 shares in the last quarter. Carlson Capital Management increased its stake in shares of Tesla by 1.6% in the 4th quarter. Carlson Capital Management now owns 8,526 shares of the electric vehicle producer’s stock valued at $3,443,000 after acquiring an additional 132 shares in the last quarter. Custos Family Office LLC lifted its position in shares of Tesla by 4.1% during the 4th quarter. Custos Family Office LLC now owns 2,987 shares of the electric vehicle producer’s stock valued at $1,206,000 after acquiring an additional 117 shares during the period. PDS Planning Inc boosted its stake in Tesla by 2.1% during the fourth quarter. PDS Planning Inc now owns 13,190 shares of the electric vehicle producer’s stock worth $5,327,000 after acquiring an additional 266 shares in the last quarter. Finally, Leelyn Smith LLC increased its stake in Tesla by 4.4% in the fourth quarter. Leelyn Smith LLC now owns 11,561 shares of the electric vehicle producer’s stock valued at $4,669,000 after purchasing an additional 487 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus decreased their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $323.00.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $238.01 on Tuesday. The company has a 50-day moving average price of $347.85 and a two-hundred day moving average price of $320.53. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $765.56 billion, a PE ratio of 116.67, a P/E/G ratio of 5.86 and a beta of 2.50.

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

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.