Cresset Asset Management LLC Sells 24,535 Shares of XPeng Inc. (NYSE:XPEV)

Cresset Asset Management LLC trimmed its holdings in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,378 shares of the company's stock after selling 24,535 shares during the quarter. Cresset Asset Management LLC's holdings in XPeng were worth $383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TMT General Partner Ltd bought a new stake in shares of XPeng in the fourth quarter valued at about $205,501,000. Ballentine Partners LLC raised its holdings in shares of XPeng by 23.4% in the fourth quarter. Ballentine Partners LLC now owns 21,647 shares of the company's stock valued at $256,000 after acquiring an additional 4,105 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of XPeng by 44.9% in the fourth quarter. Atomi Financial Group Inc. now owns 15,346 shares of the company's stock valued at $181,000 after acquiring an additional 4,758 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of XPeng by 1,215.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after acquiring an additional 2,564 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of XPeng by 221.0% in the fourth quarter. Blue Trust Inc. now owns 20,699 shares of the company's stock valued at $252,000 after acquiring an additional 14,250 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup upgraded XPeng from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $13.70 to $29.00 in a report on Monday, March 10th. Macquarie reiterated a "neutral" rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their target price on shares of XPeng from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Wednesday, March 19th. UBS Group upgraded shares of XPeng from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Finally, Bank of America boosted their target price on shares of XPeng from $18.60 to $27.00 and gave the stock a "buy" 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.20.

XPeng Stock Down 1.2%

XPeng stock opened at $20.65 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The business's 50-day simple moving average is $20.33 and its two-hundred day simple moving average is $16.50. The company has a market cap of $19.60 billion, a PE ratio of -23.74 and a beta of 2.64. XPeng Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $27.16.

XPeng (NYSE:XPEV - Get Free Report) last issued its earnings results on Tuesday, March 18th. The company reported ($0.19) 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 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.

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