OneAscent Wealth Management LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

OneAscent Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,676 shares of the electric vehicle producer’s stock after acquiring an additional 265 shares during the period. OneAscent Wealth Management LLC’s holdings in Tesla were worth $822,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Apexium Financial LP boosted its holdings in shares of Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after acquiring an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD grew its position in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP raised its stake in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after buying an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after buying an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC grew its holdings in shares of Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after acquiring an additional 598 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,855 shares of company stock valued at $19,285,643. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $0.46 during midday trading on Friday, hitting $197.88. 95,438,068 shares of the company’s stock were exchanged, compared to its average volume of 68,945,696. The firm has a market capitalization of $631.08 billion, a PE ratio of 50.48, a price-to-earnings-growth ratio of 4.90 and a beta of 2.32. The company’s 50 day moving average price is $177.80 and its 200 day moving average price is $192.03. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. As a group, analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on TSLA shares. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Tesla in a research report on Monday, June 24th. Barclays dropped their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $126.00 target price on shares of Tesla in a report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $187.30.

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.