Evoke Wealth LLC Increases Stock Position in Tesla, Inc. $TSLA

Key Points

• Evoke Wealth LLC increased its Tesla stake by 9.6% in the fourth quarter, adding 1,448 shares and bringing its total holdings to 16,470 shares worth about $7.4 million.
• Tesla reported better-than-expected EPS of $0.41 for the latest quarter, but revenue of $22.39 billion came in slightly below analyst estimates despite rising 15.8% year over year.
• Wall Street remains split on Tesla: analysts show a mix of Buy, Hold, and Sell ratings, with a consensus rating of Hold and an average target price of $395.20.

Evoke Wealth LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,470 shares of the electric vehicle producer's stock after buying an additional 1,448 shares during the period. Evoke Wealth LLC's holdings in Tesla were worth $7,407,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TSLA. Chapman Financial Group LLC purchased a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Networth Advisors LLC purchased a new stake in shares of Tesla in the 4th quarter worth about $26,000. Davidson Capital Management Inc. lifted its position in shares of Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 27 shares during the period. Turning Point Benefit Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter worth about $30,000. Finally, Prism Advisors Inc. purchased a new stake in shares of Tesla in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. Phillip Securities dropped their target price on shares of Tesla from $220.00 to $215.00 and set a "sell" rating for the company in a research report on Wednesday, May 13th. Piper Sandler reaffirmed an "overweight" rating on shares of Tesla in a research report on Thursday, January 29th. Tigress Financial began coverage on shares of Tesla in a research report on Monday, April 27th. They issued a "buy" rating for the company. TD Cowen reaffirmed a "buy" rating and issued a $490.00 target price on shares of Tesla in a research report on Thursday, April 23rd. Finally, Morgan Stanley set a $415.00 target price on shares of Tesla and gave the stock an "equal weight" rating in a research report on Thursday, January 29th. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $395.20.

Tesla Stock Up 2.0%

Shares of Tesla stock 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. The company has a 50-day moving average of $387.76 and a 200 day moving average of $416.91. The firm has a market cap of $1.60 trillion, a price-to-earnings ratio of 390.83, a PEG ratio of 16.50 and a beta of 1.79. Tesla, Inc. has a 1 year low of $273.21 and a 1 year high of $498.83.

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 (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. Tesla's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction dated 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 sale, the director owned 48,399 shares of the company's stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 83,213 shares of company stock valued at $32,201,105. 19.90% of the stock is owned by company insiders.

Trending Headlines about Tesla

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

Tesla Profile

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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