Tesla, Inc. (NASDAQ:TSLA) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.4% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allstate Corp raised its holdings in shares of Tesla by 3,285.9% during the fourth quarter. Allstate Corp now owns 85,427 shares of the electric vehicle producer's stock valued at $34,499,000 after acquiring an additional 82,904 shares during the last quarter. Maridea Wealth Management LLC acquired a new position in Tesla in the 4th quarter valued at $1,205,000. Brown Brothers Harriman & Co. boosted its stake in Tesla by 1.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 12,757 shares of the electric vehicle producer's stock worth $5,152,000 after purchasing an additional 204 shares during the last quarter. RiverFront Investment Group LLC grew its holdings in shares of Tesla by 236.2% during the fourth quarter. RiverFront Investment Group LLC now owns 11,489 shares of the electric vehicle producer's stock worth $4,640,000 after buying an additional 8,072 shares in the last quarter. Finally, Level Four Advisory Services LLC raised its position in shares of Tesla by 2.1% in the fourth quarter. Level Four Advisory Services LLC now owns 23,097 shares of the electric vehicle producer's stock valued at $9,327,000 after buying an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

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Analyst Ratings Changes

A number of analysts have commented on the stock. Guggenheim cut their price objective on shares of Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a report on Wednesday, March 12th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Monday, February 10th. Roth Capital upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their price objective on shares of Tesla from $474.00 to $455.00 and set a "buy" rating for the company in a report on Monday. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $317.75.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business'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 completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 5.7 %

NASDAQ:TSLA traded up $14.68 during trading hours on Tuesday, hitting $273.84. The company's stock had a trading volume of 77,770,322 shares, compared to its average volume of 96,535,000. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $880.80 billion, a P/E ratio of 133.95, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The stock has a fifty day moving average of $317.98 and a 200-day moving average of $323.21.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.