XPeng Inc. (NYSE:XPEV) Shares Sold by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd reduced its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,450 shares of the company's stock after selling 181,550 shares during the quarter. XPeng makes up approximately 1.6% of Central Asset Investments & Management Holdings HK Ltd's investment portfolio, making the stock its 17th largest position. Central Asset Investments & Management Holdings HK Ltd's holdings in XPeng were worth $2,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. TMT General Partner Ltd acquired a new position in XPeng in the fourth quarter valued at approximately $205,501,000. Point72 Hong Kong Ltd acquired a new position in shares of XPeng in the 3rd quarter valued at $22,047,000. Y Intercept Hong Kong Ltd acquired a new position in shares of XPeng in the 3rd quarter valued at $6,233,000. FMR LLC grew its holdings in shares of XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after purchasing an additional 295,536 shares during the period. Finally, Citigroup Inc. increased its position in shares of XPeng by 14.2% during the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company's stock worth $3,573,000 after purchasing an additional 36,560 shares during the last quarter. Hedge funds and other institutional investors own 21.09% of the company's stock.

XPeng Stock Down 3.4 %

NYSE:XPEV traded down $0.76 during mid-day trading on Friday, hitting $21.50. The stock had a trading volume of 14,441,558 shares, compared to its average volume of 11,591,074. XPeng Inc. has a twelve month low of $6.55 and a twelve month high of $22.80. The stock has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $12.41. 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 capitalization of $20.26 billion, a PE ratio of -24.72 and a beta of 2.77.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. 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 report on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on shares of XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Macquarie reissued a "neutral" rating and issued a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. Finally, UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and raised their price target for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, XPeng currently has an average rating of "Moderate Buy" and an average price target of $13.93.

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.