OneAscent Wealth Management LLC Sells 1,815 Shares of Tesla, Inc. (NASDAQ:TSLA)

OneAscent Wealth Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 49.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,860 shares of the electric vehicle producer’s stock after selling 1,815 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Tesla were worth $751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. increased its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of Tesla during the fourth quarter worth $38,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the fourth quarter valued at $46,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $263.55 on Friday. The stock has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, 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 50 day simple moving average of $321.33 and a two-hundred day simple moving average of $321.68. 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 posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were 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 approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price for the company in a report on Wednesday, March 19th. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $318.34.

Tesla 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.