Legal & General Group Plc Sells 2,654 Shares of Li Auto Inc. (NASDAQ:LI)

Legal & General Group Plc trimmed its position in shares of Li Auto Inc. (NASDAQ:LI) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 599,154 shares of the company’s stock after selling 2,654 shares during the quarter. Legal & General Group Plc’s holdings in Li Auto were worth $14,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LI. Public Employees Retirement System of Ohio bought a new position in Li Auto during the 3rd quarter valued at about $903,000. Barclays PLC raised its stake in shares of Li Auto by 41.8% in the third quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after acquiring an additional 177,414 shares during the last quarter. Virtu Financial LLC grew its position in Li Auto by 269.7% during the 3rd quarter. Virtu Financial LLC now owns 55,908 shares of the company’s stock worth $1,434,000 after acquiring an additional 40,785 shares during the last quarter. SK Wealth Management LLC bought a new stake in Li Auto during the 3rd quarter worth approximately $1,160,000. Finally, Ballentine Partners LLC acquired a new stake in Li Auto during the 4th quarter valued at $223,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LI. HSBC set a $38.50 price target on shares of Li Auto and gave the stock a “buy” rating in a research report on Thursday, March 6th. Nomura Securities raised shares of Li Auto to a “hold” rating in a research note on Monday, March 17th. Macquarie cut shares of Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Monday, March 17th. JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $22.00 to $40.00 in a research report on Friday, February 28th. Finally, Cfra Research upgraded Li Auto to a “strong sell” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.73.

Li Auto Stock Performance

Shares of LI stock opened at $23.44 on Wednesday. The company has a market capitalization of $24.54 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 3.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. Li Auto Inc. has a 52 week low of $17.44 and a 52 week high of $33.12. The company has a 50-day simple moving average of $26.16 and a 200 day simple moving average of $24.97.

Li Auto Company Profile

Li Auto Inc operates in the energy vehicle market in the People's Republic of China. It designs, develops, manufactures, and sells premium smart electric vehicles. The company's product line comprises MPVs and sport utility vehicles. It offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.