Market Overview

Tesla Lost Popularity Among Institutional Investors In Q1


It seems like Tesla Motors Inc (NASDAQ: TSLA) lost popularity over the first quarter of the year. Not only did the company see more firms close their positions (70) than start new ones (56), but also it witnessed a 22 percent decline in the number of institutions that count its stock amongst its top 10 most valuable picks according to WhaleWisdom.

Institutional Investors

Among institutions, FMR LLC continues to hold the largest position, even in spite of a 5 percent reduction in its stake over the first quarter. The firm last declared holding 8,776,532 shares of the company, worth roughly $1.65 billion.

T. Rowe Price ascended one position to the second spot in the list, after acquiring 2,136,268 shares between January and March, inclusive. The institution disclosed ownership of 8,126,211 shares, worth more than $1.5 billion, as of March 31.

Related Link: Who Holds The Most Tesla Stock?

Baillie Gifford traded places with T. Rowe Price. Even in spite of their purchase of 995,001 shares, the firm now holds the third spot in the list, with 7,025,686 shares worth roughly $1.3 billion.

Hedge Fund Investors

Among hedge funds, Daniel Benton’s Andor Capital Management is the most bullish. Despite a 20 percent reduction in its stake, Andor’s 1 million shares, worth roughly $188 million, represent the most valuable position in the hedge fund universe.

Same as in the previous quarter, John Thaler’s Jat Capital Management came in second with 733,662 Tesla shares, following an 8 percent boost in its exposure.

It should also be noted that several major hedge funds hold hundreds of millions of dollars in stock options. For instance, Ken Griffin’s Citadel Advisors disclosed ownership of 710,200 call options and 1,022,800 put options. This last stake, alone, is the most valuable position a hedge fund holds in Tesla, valued at $193 million.

Other Moves

Among newcomers at Tesla, one deserves to be highlighted: Dmitry Balyasny’s Balyasny Asset Management.

Over the first quarter, the hedge fund initiated a position with 420,675 shares, worth almost $80 million, and 135,000 call options, valued at over $25 million.

On the flip side, Cornerstone Capital Management sold all of its 110,152 shares over the quarter, Winslow Capital Management disposed of 896,948 shares (taking its holdings to 293,104 shares), and Goldman Sachs got rid of 862,506 shares (and now owns 1,792,577).

Posted-In: Andor Capital Management Baillie Gifford Balyasny Asset Management citadel advisorsLong Ideas Hedge Funds Trading Ideas General


Related Articles (TSLA)

View Comments and Join the Discussion!

Stratasys: 'Numbers Weren't There' For MakerBot

Apple's Most Relevant Q1 Institutional Investors