XPeng Inc. (NYSE:XPEV) Stake Cut by Financial Perspectives Inc

Financial Perspectives Inc lessened its holdings in shares of XPeng Inc. (NYSE:XPEV) by 45.3% during the 4th quarter, HoldingsChannel reports. The fund owned 4,399 shares of the company’s stock after selling 3,649 shares during the period. Financial Perspectives Inc’s holdings in XPeng were worth $52,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of XPEV. Avior Wealth Management LLC boosted its holdings in shares of XPeng by 1,215.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after purchasing an additional 2,564 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of XPeng during the 4th quarter valued at $41,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of XPeng during the 3rd quarter valued at $45,000. Compagnie Lombard Odier SCmA grew its holdings in shares of XPeng by 1,703.3% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 8,115 shares of the company’s stock valued at $96,000 after acquiring an additional 7,665 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of XPeng in the third quarter worth $110,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Sanford C. Bernstein lifted their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research note on Thursday, November 21st. Citigroup dropped their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. UBS Group reiterated a “sell” rating and issued a $8.80 target price (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.91.

XPeng Price Performance

NYSE XPEV opened at $18.00 on Thursday. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $18.29. The company has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $11.78. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $16.95 billion, a P/E ratio of -20.68 and a beta of 2.77.

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.