Lincoln National Corp Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Lincoln National Corp lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TSLA. International Assets Investment Management LLC boosted its stake in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its stake in Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. California Public Employees Retirement System boosted its stake in Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after purchasing an additional 2,293,344 shares during the period. Morgan Stanley boosted its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after acquiring an additional 909,170 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $6.95 during trading on Tuesday, hitting $177.81. 74,406,102 shares of the company’s stock were exchanged, compared to its average volume of 104,113,359. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The business’s 50-day simple moving average is $173.56 and its 200 day simple moving average is $204.56. The company 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. Cantor Fitzgerald began coverage on Tesla in a research report on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price target for the company. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Wednesday, April 24th. Guggenheim reiterated a “sell” rating and set a $122.00 price target on shares of Tesla in a research report on Tuesday, April 23rd. KGI Securities restated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, Wedbush restated an “outperform” rating and issued a $275.00 target price on shares of Tesla in a research report on Monday, April 29th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $185.90.

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.