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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA

TESLA, INC.

(TSLA)
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Baillie Gifford Reduces Tesla Stake to Below 5%, Remains Long-Term Supporter

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09/02/2020 | 07:02am EDT

By Adam Clark

 

Tesla Inc.'s long-term top external investor, U.K. fund manager Baillie Gifford & Co., said Wednesday that its stake in the electric-vehicle maker dropped to below 5% at the end of August but it intends to remain a long-term shareholder.

The Edinburgh-based investment company said the recent rise in Tesla's share price meant it needed to reduce its holding due to guidelines which restrict the weight of a single stock in client portfolios.

"However, we intend to remain significant shareholders for many years ahead. We remain very optimistic about the future of the company," James Anderson, co-manager of Baillie Gifford's flagship Scottish Mortgage Investment Trust PLC, said.

"Tesla no longer faces any difficulty in raising capital at scale from outside sources but should there be serious setbacks in the share price, we would welcome the opportunity to once again increase our shareholding," he said.

A regulatory filing on Wednesday showed Baillie Gifford held a 4.25% stake in Tesla.

Baillie Gifford manages around $324 billion in assets and has long been Tesla's second-largest shareholder after Chief Executive Elon Musk, first buying into the company in 2013.

 

Write to Adam Clark at adam.clark@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
AG MORTGAGE INVESTMENT TRUST, INC. 0.00% 2.75 Delayed Quote.-82.17%
SCOTTISH MORTGAGE INVESTMENT TRUST PLC 0.39% 1031 Delayed Quote.78.07%
TESLA, INC. -1.21% 420.63 Delayed Quote.402.75%
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Financials (USD)
Sales 2020 30 928 M - -
Net income 2020 1 193 M - -
Net cash 2020 1 780 M - -
P/E ratio 2020 343x
Yield 2020 -
Capitalization 392 B 392 B -
EV / Sales 2020 12,6x
EV / Sales 2021 8,77x
Nbr of Employees 48 016
Free-Float 79,6%
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Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 36
Average target price 369,94 $
Last Close Price 420,63 $
Spread / Highest target 37,4%
Spread / Average Target -12,1%
Spread / Lowest Target -81,0%
EPS Revisions
Managers
NameTitle
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
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