TMT General Partner Ltd Has $678.10 Million Stock Holdings in XPeng Inc. (NYSE:XPEV)

TMT General Partner Ltd grew its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 88.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,726,800 shares of the company's stock after purchasing an additional 15,340,907 shares during the period. XPeng comprises approximately 94.0% of TMT General Partner Ltd's investment portfolio, making the stock its largest position. TMT General Partner Ltd owned 3.47% of XPeng worth $678,099,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake 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 valued at $30,000 after purchasing an additional 898 shares in the last quarter. Lindbrook Capital LLC raised its holdings in XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock valued at $40,000 after buying an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in XPeng during the 4th quarter worth approximately $41,000. Natixis acquired a new stake in XPeng during the 4th quarter worth approximately $43,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in XPeng during the 4th quarter worth approximately $70,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XPEV has been the topic of several recent research reports. Sanford C. Bernstein set a $19.00 target price on shares of XPeng and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Nomura Securities upgraded shares of XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Nomura upgraded shares of XPeng from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. Barclays lifted their target price on shares of XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Bank of America lifted their target price on shares of XPeng from $18.60 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.29.

XPeng Trading Down 2.4%

Shares of NYSE XPEV traded down $0.48 during midday trading on Friday, reaching $19.50. The stock had a trading volume of 5,450,956 shares, compared to its average volume of 11,989,137. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of -22.41 and a beta of 2.58. XPeng Inc. has a twelve month low of $6.60 and a twelve month high of $27.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company's 50 day moving average price is $19.53 and its 200 day moving average price is $17.29.

XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.51) by $1.41. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate 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 expect that XPeng Inc. will post -0.96 EPS 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.