China Universal Asset Management Co. Ltd. Sells 38,000 Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV)

China Universal Asset Management Co. Ltd. reduced its stake in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 54.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,000 shares of the company's stock after selling 38,000 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in XPeng were worth $663,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in XPEV. Farther Finance Advisors LLC raised its holdings in shares of XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after purchasing an additional 532 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after purchasing an additional 898 shares during the period. Garde Capital Inc. bought a new stake in shares of XPeng in the 1st quarter worth approximately $39,000. Natixis bought a new stake in shares of XPeng in the 4th quarter worth approximately $43,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of XPeng in the 4th quarter worth approximately $70,000. 21.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on XPEV. Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and boosted their target price for the company from $14.00 to $30.00 in a report on Wednesday, March 19th. Barclays boosted 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. The Goldman Sachs Group raised shares of XPeng from a "neutral" rating to a "buy" rating and boosted their target price for the company from $16.40 to $24.00 in a report on Tuesday, June 17th. Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the company a "market perform" rating in a report on Thursday, May 22nd. Finally, Daiwa Capital Markets reiterated a "neutral" rating and issued a $24.00 price objective on shares of XPeng in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.73.

XPeng Trading Down 1.9%

Shares of XPeng stock traded down $0.34 during trading on Thursday, reaching $17.32. 2,479,943 shares of the stock were exchanged, compared to its average volume of 11,635,289. The company has a quick ratio of 1.07, a current ratio of 1.21 and a debt-to-equity ratio of 0.34. The stock's fifty day moving average is $19.42 and its 200 day moving average is $18.29. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of -23.09 and a beta of 2.51. XPeng Inc. Sponsored ADR has a 1 year low of $6.60 and a 1 year high of $27.16.

XPeng (NYSE:XPEV - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($1.51) by $1.41. XPeng had a negative net margin of 10.20% and a negative return on equity of 15.89%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $15.80 billion. As a group, equities research analysts expect that XPeng Inc. Sponsored ADR will post -0.96 earnings per share for the current fiscal 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.