Invesco Ltd. Sells 211,904 Shares of XPeng Inc. Sponsored ADR $XPEV

Key Points

• Invesco Ltd. has significantly reduced its stake in XPeng Inc. by 33% during the 1st quarter, resulting in ownership of 430,676 shares valued at approximately $8.9 million.
• Other institutional investors are increasing their positions in XPeng, with notable increases from companies like Alibaba and TMT General Partner Ltd., indicating a mixed trend among major stakeholders.
• Analysts have set a new price target for XPeng, with a consensus rating of "Moderate Buy" and an average price target of $23.85, reflecting varied investor sentiment regarding the company's future performance.

Invesco Ltd. decreased its position in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 33.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,676 shares of the company's stock after selling 211,904 shares during the period. Invesco Ltd.'s holdings in XPeng were worth $8,924,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in XPEV. Farther Finance Advisors LLC grew its position in shares of XPeng by 70.1% during the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock valued at $27,000 after purchasing an additional 532 shares in the last quarter. Atlas Capital Advisors Inc. grew its position in shares of XPeng by 651.0% during the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock valued at $31,000 after purchasing an additional 1,302 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of XPeng during the first quarter valued at about $39,000. Bayforest Capital Ltd grew its position in shares of XPeng by 145.5% during the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock valued at $47,000 after purchasing an additional 1,353 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of XPeng during the first quarter valued at about $54,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

XPeng Trading Down 3.5%

NYSE XPEV traded down $0.80 during trading on Thursday, hitting $21.90. The stock had a trading volume of 10,715,796 shares, compared to its average volume of 9,946,228. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.14. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of -34.76 and a beta of 2.50. XPeng Inc. Sponsored ADR has a one year low of $7.47 and a one year high of $27.16. The stock has a 50 day simple moving average of $19.26 and a 200 day simple moving average of $19.70.

Analyst Ratings Changes

XPEV has been the subject of a number of research analyst reports. Citigroup raised their price objective on XPeng from $29.00 to $29.40 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Sanford C. Bernstein set a $19.00 price objective on XPeng and gave the company a "market perform" rating in a research report on Thursday, May 22nd. BNP Paribas initiated coverage on XPeng in a research report on Monday, August 18th. They issued a "hold" rating for the company. Macquarie lifted their price target on XPeng from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Finally, Morgan Stanley set a $28.00 price target on XPeng and gave the stock an "overweight" rating in a research report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, XPeng currently has a consensus rating of "Moderate Buy" and an average target price of $23.85.

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.