Is Baillie Gifford Losing Confidence in Tesla (TSLA) Stock?
Source: Vitaliy Karimov | Shutterstock.com Tesla (NASDAQ: TSLA ) stock is in focus today on news that Baillie Gifford sold 407,949 shares during the second quarter, decreasing its position by 4%. The leading U.K. asset management firm boasts over $95 billion in managed 13F securities and acts as a long-term investor. Baillie has an average holding period of 12.39 quarters for stocks in its portfolio and a holding period of 16.8 quarters for its top ten stocks. Baillie hasn’t been the only notable figure selling TSLA stock lately. Earlier this week, CEO Elon Musk disclosed that he recently sold 7.92 million shares worth $6.88 billion between Aug. 5 and Aug. 9. This is the second time Musk has sold TSLA this year, following an $8.4 billion sale in late April. Musk likely sold the shares to fund his potential Twitter (NYSE: TWTR ) acquisition. The CEO explained that he would buy back the shares if he was not forced to acquire the social media platform. The five-day trial between Musk and Twitter is scheduled for Oct. 17 at Delaware’s Chancery court.
Is Baillie Gifford Losing Confidence in Tesla (TSLA) Stock?
Source: Vitaliy Karimov | Shutterstock.com Tesla (NASDAQ: TSLA ) stock is in focus today on news that Baillie Gifford sold 407,949 shares during the second quarter, decreasing its position by 4%. The leading U.K. asset management firm boasts over $95 billion in managed 13F securities and acts as a long-term investor. Baillie has an average holding period of 12.39 quarters for stocks in its portfolio and a holding period of 16.8 quarters for its top ten stocks. Baillie hasn’t been the only notable figure selling TSLA stock lately. Earlier this week, CEO Elon Musk disclosed that he recently sold 7.92 million shares worth $6.88 billion between Aug. 5 and Aug. 9. This is the second time Musk has sold TSLA this year, following an $8.4 billion sale in late April. Musk likely sold the shares to fund his potential Twitter (NYSE: TWTR ) acquisition. The CEO explained that he would buy back the shares if he was not forced to acquire the social media platform. The five-day trial between Musk and Twitter is scheduled for Oct. 17 at Delaware’s Chancery court.