OneAscent Financial Services LLC Has $2.38 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

OneAscent Financial Services LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,071 shares of the electric vehicle producer's stock after purchasing an additional 890 shares during the period. OneAscent Financial Services LLC's holdings in Tesla were worth $2,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla in the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. boosted its stake in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter valued at approximately $8,158,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Canaccord Genuity Group reissued a "buy" rating and set a $303.00 price target on shares of Tesla in a research report on Monday, June 30th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $300.19.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $329.65 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.06 trillion, a PE ratio of 181.13, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. The company has a 50 day moving average of $326.27 and a 200-day moving average of $316.70. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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