Fmr LLC Boosts Stock Position in XPeng Inc. (NYSE:XPEV)

Fmr LLC grew its holdings in XPeng Inc. (NYSE:XPEV) by 1,053.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 323,581 shares of the company’s stock after purchasing an additional 295,536 shares during the quarter. Fmr LLC’s holdings in XPeng were worth $3,941,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Citigroup Inc. boosted its stake in shares of XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after buying an additional 36,560 shares during the period. Advisors Asset Management Inc. raised its stake in XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock worth $604,000 after acquiring an additional 16,289 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd boosted its position in shares of XPeng by 36.0% in the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after purchasing an additional 108,000 shares during the period. Venturi Wealth Management LLC purchased a new position in XPeng during the 3rd quarter worth approximately $110,000. Finally, Van ECK Associates Corp increased its holdings in shares of XPeng by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock valued at $2,481,000 after acquiring an additional 10,148 shares during the period. Institutional investors and hedge funds own 21.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup cut their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. UBS Group reaffirmed a “sell” rating and issued a $8.80 target price (up from $8.20) on shares of XPeng in a report on Thursday, December 5th. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Bank of America cut their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.69.

XPeng Stock Performance

NYSE XPEV opened at $12.30 on Friday. The business’s 50-day moving average price is $12.27 and its 200 day moving average price is $9.73. 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 Inc. has a twelve month low of $6.55 and a twelve month high of $16.28. The company has a market capitalization of $11.59 billion, a PE ratio of -14.14 and a beta of 2.76.

About XPeng

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.