Written by Cláudio Afonso | LinkedIn | X
The Japanese financial group Sumitomo Mitsui Trust Holdings filed a new form with SEC on Friday reporting that sold 1.91% of its stake in the electric vehicle (EV) manufacturer Nio during the second quarter.
Sumitomo Mitsui, one of Nio’s longest-standing institutional shareholders, purchased its first 1,744,991 shares in the company in the second quarter of 2019, half a year after the initial public offering.
In early 2021, when the stock was trading at all-time-high levels, at about $66 per share, the bank’s position was valued at over $170 million.
After selling 65,391 shares, the Tokyo-based firm owns now over 3.53 million shares, valued at about $15.22 million based on Thursday’s closing price of $4.54 per share.
The second quarter was the fourth time in a row that the fund decreased its position in the Shanghai EV maker. However, all the four sales were small adjustments of less than 2.20% per transaction.
Sumitomo Mitsui Trust Holdings x NIO Trading Activity
| File Date | Effective Date | Reported Shares | ΔShares | ΔShares (%) | Value ($ Million) |
|---|---|---|---|---|---|
| 2024-07-19 | Q2 2024 | 3,353,380 | -65,391 | -1.91 | 13.950 |
| 2024-04-19 | Q1 2024 | 3,418,771 | -8,544 | -0.25 | 15.384 |
| 2024-01-30 | Q4 2023 | 3,427,315 | -26,498 | -0.77 | 31.086 |
| 2023-10-30 | Q3 2023 | 3,453,813 | -77,458 | -2.19 | 31.222 |
| 2023-07-31 | Q2 2023 | 3,531,271 | 98,525 | 2.87 | 34.218 |
| 2023-04-27 | Q1 2023 | 3,432,746 | -28,867 | -0.83 | 36.078 |
| 2023-01-30 | Q4 2022 | 3,461,613 | 53,986 | 1.58 | 33.751 |
| 2022-10-21 | Q3 2022 | 3,407,627 | 132,493 | 4.05 | 53.738 |
| 2022-07-26 | Q2 2022 | 3,275,134 | 58,259 | 1.81 | 71.136 |
| 2022-04-27 | Q1 2022 | 3,216,875 | 171,144 | 5.62 | 67.715 |
| 2022-02-02 | Q4 2021 | 3,045,731 | -270,697 | -8.16 | 96.489 |
| 2021-10-25 | Q3 2021 | 3,316,428 | 80,540 | 2.49 | 118.164 |
| 2021-08-02 | Q2 2021 | 3,235,888 | -73,567 | -2.22 | 172.149 |
| 2021-04-30 | Q1 2021 | 3,309,455 | -121,023 | -3.53 | 129.003 |
| 2021-02-05 | Q4 2020 | 3,430,478 | 45,064 | 1.33 | 167.201 |
| 2020-10-30 | Q3 2020 | 3,385,414 | 569,772 | 20.24 | 71.838 |
| 2020-07-27 | Q2 2020 | 2,815,642 | 839,145 | 42.46 | 21.737 |
| 2020-04-27 | Q1 2020 | 1,976,497 | 106,460 | 5.69 | 5.495 |
| 2020-01-31 | Q4 2019 | 1,870,037 | 151,481 | 8.81 | 7.518 |
| 2019-10-31 | Q3 2019 | 1,718,556 | -26,435 | -1.51 | 2.681 |
| 2019-07-29 | Q2 2019 | 1,744,991 | 1,744,991 | N/A | 4.450 |
Two years ago, Sumitomo Mitsui considerable raised its position by 42.4% after buying 839,145 shares following another 569,772 shares three months later.
As of today, Nio has 628 institutional shareholders who collectively hold 346 million shares, according to data from Fintel.
In early 2022, the company reached its peak of institutional ownership, with nearly 600,000 shares held by institutional investors when the stock price traded between $20 and $30 per share.
Earlier this week, local media in China reported that Nio was planning to increase prices for some of its best selling models in China as it eyes higher vehicle margins.
In early June, the chief executive William Li said the company targets to reach 20% of vehicle margin in the upcoming platform NT3.
Written by Cláudio Afonso | LinkedIn | X
