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 holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. 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.

Several other hedge funds also recently modified their holdings of TSLA. Goldman Sachs Group Inc. boosted its holdings in shares of Tesla by 322.1% during the 1st 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 acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Tesla during the 1st quarter valued at $3,247,619,000. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after buying an additional 6,435,598 shares during the period. Finally, Amundi lifted its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 1.6%

Tesla stock traded down $6.99 during midday trading on Tuesday, reaching $427.22. The stock had a trading volume of 62,623,596 shares, compared to its average volume of 103,129,625. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.42 trillion, a P/E ratio of 246.97, a PEG ratio of 14.86 and a beta of 2.06. The company has a fifty day moving average price of $343.03 and a two-hundred day moving average price of $309.87. 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 issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The business's quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on TSLA. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. UBS Group reaffirmed a "sell" rating on shares of Tesla in a report on Monday. Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday. Dbs Bank lifted their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Stifel Nicolaus set a $440.00 price objective on Tesla in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $326.74.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 in the last three months. Corporate insiders own 19.90% of the company's stock.

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.