State Street Corp Sells 9,565 Shares of XPeng Inc. (NYSE:XPEV)

State Street Corp cut its holdings in XPeng Inc. (NYSE:XPEV) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 653,242 shares of the company’s stock after selling 9,565 shares during the quarter. State Street Corp’s holdings in XPeng were worth $7,956,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Greenleaf Trust boosted its stake in XPeng by 16.2% during the third quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock worth $196,000 after acquiring an additional 2,243 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock worth $163,000 after purchasing an additional 2,609 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of XPeng in the 3rd quarter worth approximately $45,000. Signaturefd LLC grew its stake in shares of XPeng by 19.4% in the 2nd quarter. Signaturefd LLC now owns 24,647 shares of the company’s stock worth $181,000 after buying an additional 4,002 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in XPeng by 32.8% during the 3rd quarter. Ballentine Partners LLC now owns 17,542 shares of the company’s stock valued at $214,000 after buying an additional 4,335 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors.

XPeng Stock Performance

Shares of NYSE XPEV opened at $12.63 on Friday. The firm’s 50-day moving average price is $12.47 and its 200-day moving average price is $10.04. XPeng Inc. has a 52-week low of $6.55 and a 52-week high of $15.68. The company has a market cap of $11.90 billion, a PE ratio of -14.52 and a beta of 2.76. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on XPEV shares. UBS Group reissued 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. Sanford C. Bernstein upped their price target on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Citigroup cut their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Finally, The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, XPeng presently has a consensus rating of “Moderate Buy” and an average price target of $11.69.

XPeng 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.