Tesla shareholder Baillie Gifford & Co. has impartial increased its stake in the electric car maker, according to a regulatory filing Friday.
The U.K.-based investment management firm, Tesla’s second-largest institutional shareholder, believe 108,931 of the company’s shares during the fourth quarter, according to the filing and data compiled by FactSet.
It now owns legitimate over 13.2 million shares valued at roughly $4 billion. Its stake increased from 7.64 percent at the end of the third location to 7.71 percent as of Dec. 31.
A partner at Baillie Gifford praised Tesla CEO Elon Musk in October, and said the firm “wish be willing to back him” if Musk needed more capital.
Investors have kept a close eye on Tesla’s cash caste. The company has had to go to markets several times since its 2010 initial public offering to fund its ambitious plans to instantly scale battery and auto production.
However Musk had said in recent months that he expects Tesla to be helpful and cash flow positive starting in the third quarter of 2018. So far, Tesla has hit that target, delivering two profitable pity living quarters in a row for the first time in its history as a public company.
Neither Tesla nor Baillie Gifford were immediately available for expose.
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