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

OneAscent Wealth Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,675 shares of the electric vehicle producer’s stock after selling 632 shares during the quarter. Tesla makes up approximately 0.4% of OneAscent Wealth Management LLC’s holdings, making the stock its 28th largest holding. OneAscent Wealth Management LLC’s holdings in Tesla were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TSLA. Bank & Trust Co purchased a new position in Tesla in the second quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group boosted its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA traded up $19.95 during trading hours on Monday, hitting $340.67. The company’s stock had a trading volume of 30,062,133 shares, compared to its average volume of 95,731,906. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a 50 day simple moving average of $252.30 and a two-hundred day simple moving average of $221.01.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $230.18.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % 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 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 over the last three months. Company insiders own 20.70% of the company’s stock.

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.