Tesla's (TSLA) largest institutional investor just cut its stake by 50%

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TSLA – T. Rowe Price owned 8.98 million Tesla shares by the end of last year, according to a filing at the Securities and Exchange Commission.


  • T. Rowe Price owned 8.98 million Tesla shares by the end of last year, according to a filing at the Securities and Exchange Commission.
  • The new, smaller stake represents 5.2 percent of the electric auto maker’s common shares outstanding at the end of December.
  • Previously, T. Rowe Price was the electric car maker’s second-largest shareholder behind CEO Elon Musk.

T. Rowe Price cut its stake in Tesla in half during the fourth quarter, according to a government filing.

The international money manager owned 8.98 million Tesla shares by the end of last year, according to a filing at the Securities and Exchange Commission. The new, smaller stake represents 5.2 percent of the electric auto maker’s common shares outstanding at the end of December. The Baltimore-based fund group reported in a prior filing that it owned 17.4 million shares, or a 10.2 percent stake, as of Sept. 30.

T. Rowe Price was the electric car maker’s second-largest shareholder behind CEO Elon Musk at the end of the third quarter of 2018. The firm had $962 billion in assets under management as of Dec. 31.

Tesla shares rose almost 26 percent during the fourth quarter and were up 2.7 percent Monday afternoon, above $314 per share.

T. Rowe Price declined to comment for this story, while Tesla did not immediately responded to CNBC’s request for comment.


Tesla Inc. shares fell $0.39 (-0.12%) in after-hours trading Monday. Year-to-date, TSLA has declined -6.00%, versus a 8.28% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #7 of 25 stocks in the Auto & Vehicle Manufacturers category.


This article is brought to you courtesy of CNBC.

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