T. Rowe Price reports that it sold 81% of its Tesla (TSLA) shares year-to-date

NASDAQ: TSLA | Tesla, Inc. News, Ratings, and Charts

TSLA – The fund manager held 1.7 million Tesla shares as of March 31, down from 8.9 million shares at the end of 2018.

T. Rowe Price Associates Inc. sold roughly 81% of its shares of Tesla Inc. over the first three months of the year, marking a sharp retreat for a firm that for years had been one of the electric-car maker’s biggest investors.

The fund manager held 1.7 million Tesla shares as of March 31, down from 8.9 million shares at the end of 2018, according to a Wednesday filing with the Securities and Exchange Commission.

T. Rowe TROW, +1.75%   declined to comment on the move, while Tesla didn’t immediately respond to a request for comment.

The move by T. Rowe comes as Tesla shares TSLA, -1.32%   have logged a 30% loss for the year through Wednesday, compared with the S&P 500’s SPX, +1.30%   14% gain.


Tesla Inc. shares were trading at $228.96 per share on Thursday morning, down $2.99 (-1.29%). Year-to-date, TSLA has declined -31.20%, versus a 16.00% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of D (Sell), and is ranked #18 of 25 stocks in the Auto & Vehicle Manufacturers category.


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