Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Lincoln National Corp

Lincoln National Corp trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,789 shares of the electric vehicle producer’s stock after selling 1,169 shares during the period. Lincoln National Corp’s holdings in Tesla were worth $11,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter valued at $25,000. Lam Group Inc. acquired a new stake in Tesla during the fourth quarter worth approximately $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted its position in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Finally, Cordant Inc. acquired a new stake in Tesla during the third quarter worth approximately $53,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock traded down $6.95 during midday trading on Tuesday, reaching $177.81. 74,406,102 shares of the stock traded hands, compared to its average volume of 104,113,359. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $173.56 and a two-hundred day moving average price of $204.56. The firm has a market cap of $567.07 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Wednesday, April 17th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. The Goldman Sachs Group cut their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $185.90.

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.