OneAscent Investment Solutions LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

OneAscent Investment Solutions LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,279 shares of the electric vehicle producer's stock, valued at approximately $331,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Northern Trust Corp grew its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 0.4%

TSLA opened at $339.38 on Thursday. The company has a 50 day moving average of $318.69 and a 200 day moving average of $306.71. The company has a market cap of $1.09 trillion, a PE ratio of 196.17, a price-to-earnings-growth ratio of 11.85 and a beta of 2.33. Tesla, Inc. has a 12 month low of $198.75 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. China Renaissance restated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Barclays dropped their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Mizuho dropped their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $303.31.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by company 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.

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