OneAscent Financial Services LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

OneAscent Financial Services LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 53.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,181 shares of the electric vehicle producer’s stock after acquiring an additional 2,859 shares during the period. OneAscent Financial Services LLC’s holdings in Tesla were worth $3,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. United Bank purchased a new position in shares of Tesla during the 3rd quarter valued at about $287,000. Quantbot Technologies LP acquired a new position in shares of Tesla in the 3rd quarter valued at about $687,000. Benjamin Edwards Inc. grew its holdings in Tesla by 95.6% during the third quarter. Benjamin Edwards Inc. now owns 41,766 shares of the electric vehicle producer’s stock worth $10,927,000 after acquiring an additional 20,418 shares during the period. Finally, Community Bank N.A. raised its position in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.6 %

Shares of NASDAQ TSLA opened at $268.46 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s 50-day moving average is $314.87 and its two-hundred day moving average is $323.48. The company has a market capitalization of $863.51 billion, a PE ratio of 131.60, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their target price on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $317.75.

Insider Transactions at Tesla

In other 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 sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s 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 owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.