XPeng Inc. (NYSE:XPEV) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its stake in XPeng Inc. (NYSE:XPEV) by 38.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 269,808 shares of the company’s stock after selling 167,837 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in XPeng were worth $3,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TMT General Partner Ltd acquired a new position in shares of XPeng in the fourth quarter valued at approximately $205,501,000. Y Intercept Hong Kong Ltd purchased a new position in XPeng in the 3rd quarter valued at $6,233,000. FMR LLC increased its stake in XPeng by 1,053.8% in the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after buying an additional 295,536 shares during the period. AI Squared Management Ltd purchased a new position in XPeng during the 4th quarter worth $2,126,000. Finally, Point72 Italy S.r.l. acquired a new stake in shares of XPeng in the 3rd quarter worth $1,160,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on XPEV shares. Daiwa Capital Markets reissued a “neutral” rating and set a $24.00 price target on shares of XPeng in a report on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. Sanford C. Bernstein set a $18.00 target price on shares of XPeng and gave the stock a “market perform” rating in a research report on Wednesday, March 19th. Nomura upgraded shares of XPeng from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $30.00 in a report on Wednesday, March 19th. Finally, Daiwa America downgraded shares of XPeng from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.20.

XPeng Stock Up 1.2 %

Shares of NYSE XPEV opened at $20.97 on Wednesday. The firm’s 50-day moving average is $19.30 and its two-hundred day moving average is $14.68. The company has a market capitalization of $19.75 billion, a PE ratio of -24.10 and a beta of 2.68. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $27.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Equities analysts anticipate that XPeng Inc. will post -0.96 EPS for the current fiscal year.

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.