Ethic Inc. Buys 37,428 Shares of XPeng Inc. (NYSE:XPEV)

Ethic Inc. increased its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 111.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 71,092 shares of the company's stock after purchasing an additional 37,428 shares during the quarter. Ethic Inc.'s holdings in XPeng were worth $840,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alibaba Group Holding Ltd raised its position in shares of XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock valued at $448,678,000 after purchasing an additional 6,650,000 shares during the period. TMT General Partner Ltd acquired a new position in XPeng in the 4th quarter valued at $205,501,000. JPMorgan Chase & Co. raised its holdings in XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock worth $54,354,000 after acquiring an additional 4,227,055 shares during the period. Renaissance Technologies LLC lifted its position in XPeng by 51.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,073,367 shares of the company's stock worth $12,687,000 after acquiring an additional 366,667 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in XPeng during the 4th quarter worth $9,398,000. Institutional investors own 21.09% of the company's stock.

XPeng Stock Performance

Shares of XPeng stock opened at $20.77 on Thursday. XPeng Inc. has a 52-week low of $6.60 and a 52-week high of $27.16. The firm has a market capitalization of $19.71 billion, a PE ratio of -23.87 and a beta of 2.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The company's fifty day moving average price is $20.37 and its two-hundred day moving average price is $16.44.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on XPEV. Macquarie reaffirmed a "neutral" rating and issued a $18.00 price target on shares of XPeng in a research report on Friday, February 7th. Sanford C. Bernstein set a $18.00 target price on XPeng and gave the company a "market perform" rating in a report on Wednesday, March 19th. Citigroup raised XPeng from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. Nomura Securities raised XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Nomura upgraded shares of XPeng from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $14.00 to $30.00 in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.20.

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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