Ameriprise Financial Inc. Sells 127,518 Shares of XPeng Inc. (NYSE:XPEV)

Ameriprise Financial Inc. lessened its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 88.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,209 shares of the company's stock after selling 127,518 shares during the quarter. Ameriprise Financial Inc.'s holdings in XPeng were worth $203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alibaba Group Holding Ltd raised its holdings in XPeng by 21.2% during the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock worth $448,678,000 after purchasing an additional 6,650,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in XPeng by 1,138.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock worth $54,354,000 after purchasing an additional 4,227,055 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 buying an additional 366,667 shares in the last quarter. Jump Financial LLC purchased a new position in shares of XPeng during the 4th quarter worth approximately $5,813,000. Finally, Van ECK Associates Corp raised its stake in shares of XPeng by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 253,875 shares of the company's stock worth $3,001,000 after buying an additional 31,538 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company's stock.

Wall Street Analyst Weigh In

XPEV has been the subject of several recent research reports. Barclays raised their target price on shares of XPeng from $7.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, March 20th. Macquarie reissued a "neutral" rating and set a $18.00 price objective on shares of XPeng in a research note on Friday, February 7th. Daiwa Capital Markets reissued a "neutral" rating and set a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. Nomura Securities raised XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, XPeng presently has a consensus rating of "Hold" and a consensus price target of $22.29.

XPeng Price Performance

Shares of XPeng stock traded down $0.48 during midday trading on Friday, hitting $19.50. 5,450,956 shares of the company traded hands, compared to its average volume of 11,989,137. The firm's fifty day moving average price is $19.53 and its 200-day moving average price is $17.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. XPeng Inc. has a 12 month low of $6.60 and a 12 month high of $27.16. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of -22.41 and a beta of 2.58.

XPeng (NYSE:XPEV - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($1.51) by $1.41. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $15.80 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. As a group, sell-side analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current year.

XPeng Company 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.