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Tesla Investor Baillie Gifford Increases Stake In The Company

Tesla Inc.'s (TSLA) shareholder Baillie Gifford & Co. has increased stake in the luxury electric car maker by more $30 million.

The U.K.-based investment management firm is Tesla's second-largest institutional shareholder. The company purchased 108,931 of the company's shares during the fourth quarter, according to an SEC filing. CNBC was the first to report the filing.

The firm now owns just over 13.2 million shares valued at roughly $4 billion, based on Tesla's stock price of $306.33. Its stake increased from 7.64 percent at the end of the third quarter to 7.71 percent as of December 31.

Last month, Tesla had reported a profit of $139 million for the fourth quarter, the company's second consecutive quarterly profit.

Tesal founder and CEO Elon Musk is currently Tesla's largest shareholder and owns about 20 percent of the company.

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