Coatue Management LLC Cuts Stock Position in Li Auto Inc. (NASDAQ:LI)

Coatue Management LLC cut its holdings in Li Auto Inc. (NASDAQ:LI) by 89.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,388,680 shares of the company’s stock after selling 11,398,330 shares during the quarter. Coatue Management LLC owned 0.15% of Li Auto worth $48,520,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LI. Laurion Capital Management LP increased its position in shares of Li Auto by 723.9% during the second quarter. Laurion Capital Management LP now owns 82,394 shares of the company’s stock worth $2,879,000 after purchasing an additional 72,394 shares in the last quarter. Toroso Investments LLC increased its position in shares of Li Auto by 34.2% during the second quarter. Toroso Investments LLC now owns 100,393 shares of the company’s stock worth $3,508,000 after purchasing an additional 25,599 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Li Auto by 58.4% during the second quarter. APG Asset Management N.V. now owns 53,038 shares of the company’s stock worth $1,563,000 after purchasing an additional 19,559 shares in the last quarter. Berkshire Capital Holdings Inc. increased its position in shares of Li Auto by 2,468,100.0% during the second quarter. Berkshire Capital Holdings Inc. now owns 246,820 shares of the company’s stock worth $8,624,000 after purchasing an additional 246,810 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Li Auto by 2.7% during the second quarter. California Public Employees Retirement System now owns 983,235 shares of the company’s stock worth $34,354,000 after purchasing an additional 25,886 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

LI traded up $0.43 during mid-day trading on Thursday, hitting $29.12. 206,180 shares of the stock were exchanged, compared to its average volume of 5,046,623. The firm’s fifty day moving average is $28.82 and its two-hundred day moving average is $26.79. Li Auto Inc. has a 1-year low of $15.98 and a 1-year high of $47.70. The company has a current ratio of 5.17, a quick ratio of 5.02 and a debt-to-equity ratio of 0.24. The company has a market cap of $29.87 billion, a PE ratio of -181.13 and a beta of 2.09.

A number of equities analysts have weighed in on LI shares. Nomura Instinet started coverage on Li Auto in a research note on Thursday. They set a “buy” rating and a $43.40 price objective on the stock. Citigroup lowered their price objective on Li Auto from $48.10 to $42.50 and set a “buy” rating on the stock in a research note on Tuesday, August 17th. Bank of America boosted their price objective on Li Auto from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Nomura started coverage on Li Auto in a research note on Thursday. They set a “buy” rating and a $43.40 price objective on the stock. Finally, The Goldman Sachs Group began coverage on Li Auto in a research note on Thursday, August 12th. They set a “conviction-buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $41.92.

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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