Rafferty Asset Management LLC Sells 23,123 Shares of XPeng Inc. (NYSE:XPEV)

Rafferty Asset Management LLC cut its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 57.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,162 shares of the company's stock after selling 23,123 shares during the period. Rafferty Asset Management LLC's holdings in XPeng were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Alibaba Group Holding Ltd boosted its holdings in shares of XPeng by 21.2% during the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock worth $448,678,000 after buying an additional 6,650,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of XPeng by 1,138.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock worth $54,354,000 after buying an additional 4,227,055 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of XPeng by 947.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company's stock worth $20,800,000 after buying an additional 1,591,750 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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. Finally, BNP Paribas Financial Markets bought a new position in shares of XPeng during the 4th quarter worth approximately $9,398,000. 21.09% of the stock is currently owned by institutional investors.

XPeng Stock Performance

Shares of XPeng stock traded up $0.80 during trading hours on Thursday, hitting $20.13. 3,641,608 shares of the company's stock traded hands, compared to its average volume of 12,092,030. XPeng Inc. has a 12-month low of $6.60 and a 12-month high of $27.16. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of -23.14 and a beta of 2.64. The company has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $16.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on XPEV shares. Bank of America increased their price target on XPeng from $18.60 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. Macquarie reaffirmed a "neutral" rating and set a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. Daiwa America lowered XPeng from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Barclays upped their target price on XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Citigroup raised XPeng from a "neutral" rating to a "buy" rating and upped their target price for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.29.

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.