Li Auto Inc. (NASDAQ:LI) Shares Sold by Coatue Management LLC

Coatue Management LLC reduced its holdings in Li Auto Inc. (NASDAQ:LI) by 89.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,388,680 shares of the company’s stock after selling 11,398,330 shares during the quarter. Coatue Management LLC’s holdings in Li Auto were worth $48,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG increased its stake in Li Auto by 57.1% in the 2nd quarter. Deutsche Bank AG now owns 1,109,002 shares of the company’s stock valued at $38,749,000 after purchasing an additional 402,914 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Li Auto by 117.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 3,344,180 shares of the company’s stock valued at $83,604,000 after purchasing an additional 1,804,869 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Li Auto by 197.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 373,553 shares of the company’s stock valued at $13,050,000 after purchasing an additional 247,800 shares in the last quarter. New York State Common Retirement Fund increased its stake in Li Auto by 57.7% in the 2nd quarter. New York State Common Retirement Fund now owns 96,260 shares of the company’s stock valued at $3,363,000 after purchasing an additional 35,206 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Li Auto by 658.4% in the 1st quarter. Geode Capital Management LLC now owns 663,900 shares of the company’s stock valued at $16,469,000 after purchasing an additional 576,359 shares in the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on LI shares. Needham & Company LLC started coverage on Li Auto in a research note on Tuesday, August 31st. They issued a “buy” rating and a $37.00 price objective for the company. Zacks Investment Research downgraded Li Auto from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. Nomura Instinet started coverage on Li Auto in a research report on Thursday. They set a “buy” rating and a $43.40 price target for the company. The Goldman Sachs Group started coverage on Li Auto in a research report on Thursday, August 12th. They set a “conviction-buy” rating for the company. Finally, Nomura started coverage on Li Auto in a research report on Thursday. They set a “buy” rating and a $43.40 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Li Auto has an average rating of “Buy” and a consensus target price of $41.92.

Shares of NASDAQ:LI traded up $0.43 during midday trading on Thursday, reaching $29.12. The company’s stock had a trading volume of 206,180 shares, compared to its average volume of 5,046,623. The firm has a market cap of $29.87 billion, a price-to-earnings ratio of -181.13 and a beta of 2.09. The company has a quick ratio of 5.02, a current ratio of 5.17 and a debt-to-equity ratio of 0.24. Li Auto Inc. has a 1 year low of $15.98 and a 1 year high of $47.70. The business has a 50 day moving average price of $28.82 and a 200 day moving average price of $26.79.

Li Auto Profile

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. It offers Li ONE, a six-seat electric SUV that equipped with a range of extension system and smart vehicle solutions. The company was formerly known as Leading Ideal Inc and changed its name to Li Auto Inc in July 2020.

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Institutional Ownership by Quarter for Li Auto (NASDAQ:LI)

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