Advisors Asset Management Inc. Buys 16,289 Shares of XPeng Inc. (NYSE:XPEV)

Advisors Asset Management Inc. raised its stake in shares of XPeng Inc. (NYSE:XPEV) by 48.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 49,624 shares of the company’s stock after purchasing an additional 16,289 shares during the quarter. Advisors Asset Management Inc.’s holdings in XPeng were worth $604,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after acquiring an additional 2,724,549 shares during the period. Primecap Management Co. CA increased its stake in XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after acquiring an additional 872,160 shares during the period. Point72 Europe London LLP bought a new stake in XPeng in the second quarter valued at about $5,923,000. DekaBank Deutsche Girozentrale increased its stake in XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after acquiring an additional 550,000 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new stake in XPeng in the second quarter valued at about $2,199,000. Institutional investors own 23.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. Citigroup decreased their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.05.

XPeng Price Performance

Shares of XPEV stock opened at $11.91 on Thursday. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $18.00. The firm’s 50 day moving average is $11.97 and its 200-day moving average is $9.37. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of -13.69 and a beta of 2.80. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

XPeng Company Profile

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.