T. Rowe Price sheds most of its Tesla stake
April 18 (Reuters) - T. Rowe Price, once the second-largest
investor in Tesla Inc after Chief Executive Officer
Elon Musk, has shed most of its stake in the electric carmaker
in a series of transactions over the last two quarters.
Funds managed by T. Rowe Price Group Inc owned a
10.12 percent stake in Tesla as of September. It sold roughly
half of that stake in the quarter ended December and 92 percent
of its remaining stake in the following quarter.
Tesla has been plagued with problems for the last several
quarters, ranging from production hurdles for its Model 3 sedans
to Musk's brush off with securities regulators.
T. Rowe, which managed more than $1 trillion in assets,
started investing in Tesla in 2015 and the electric carmaker
said in 2016 it was among its top five investors.
TIME PERIOD STAKE LINK
First quarter Sold off 92 percent of
2019 its prior holdings in
End of December 5.2 percent stake
End of July-Sept 10.12 percent stake
End of the 6.99 percent stake
As of April 26th 6.4 percent stake (http://bit.ly/2Urzika)
As of April 20th 7.4 percent stake (http://bit.ly/2Pi9wxM)
As of April 15th 6 percent stake (http://bit.ly/2Ut7Z8U)
* Source: SEC Filings and Refinitiv data
(Reporting by Akanksha Rana in Bengaluru; Editing by Anil
First Published: 2019-04-18 03:31:40
Updated 2019-04-18 16:24:34
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