Lincoln Capital LLC Buys 1,174 Shares of Tesla, Inc. $TSLA

Key Points

• Lincoln Capital LLC has increased its stake in Tesla by 67.6% during Q2, owning 2,911 shares worth $925,000 as of the latest SEC filing.
• Insider trading activity includes Xiaotong Zhu selling 20,000 shares valued at $7.3 million and James R. Murdoch selling 60,000 shares for $25.4 million, indicating a 29.59% and 8.61% decrease in their respective ownership.
• Equity analysts have mixed ratings on Tesla, with two Strong Buy ratings and a consensus average price target of $317.70, while several firms, including HSBC, have issued a "reduce" rating.

Lincoln Capital LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,911 shares of the electric vehicle producer's stock after purchasing an additional 1,174 shares during the period. Lincoln Capital LLC's holdings in Tesla were worth $925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its position in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.9%

Shares of TSLA traded up $8.14 during mid-day trading on Monday, hitting $434.21. 96,526,944 shares of the company's stock were exchanged, compared to its average volume of 103,372,102. The firm has a fifty day moving average of $340.68 and a two-hundred day moving average of $308.67. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.99, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company earned $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock worth $77,360,462. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. The Goldman Sachs Group upped their price target on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research report on Thursday. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and upped their price target for the company from $320.00 to $548.00 in a research report on Friday. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $324.53.

Tesla Company 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.