Northern Trust Corp Purchases 27,838 Shares of XPeng Inc. (NYSE:XPEV)

Northern Trust Corp lifted its position in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,733 shares of the company's stock after purchasing an additional 27,838 shares during the period. Northern Trust Corp's holdings in XPeng were worth $1,900,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of XPeng by 55.8% during the fourth 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. Avior Wealth Management LLC lifted its position in shares of XPeng by 1,215.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC raised its position in XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock worth $40,000 after acquiring an additional 1,138 shares during the period. Golden State Wealth Management LLC bought a new stake in XPeng in the fourth quarter worth about $41,000. Finally, Natixis bought a new stake in XPeng in the fourth quarter worth about $43,000. 21.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on XPEV shares. Citigroup raised shares of XPeng from a "neutral" rating to a "buy" rating and boosted their price target for the company from $13.70 to $29.00 in a research report on Monday, March 10th. Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Bank of America boosted their price objective on shares of XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $14.00 to $30.00 in a research note on Wednesday, March 19th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating and set a $24.00 price objective on shares of XPeng in a research note on Wednesday, March 19th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.29.

XPeng Price Performance

XPEV stock traded up $0.77 during midday trading on Thursday, reaching $20.10. The company had a trading volume of 6,366,773 shares, compared to its average volume of 12,102,269. 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 Inc. has a 1 year low of $6.60 and a 1 year high of $27.16. The company has a market capitalization of $19.08 billion, a P/E ratio of -23.11 and a beta of 2.64. The firm has a 50-day moving average price of $19.67 and a 200-day moving average price of $16.99.

XPeng (NYSE:XPEV - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($1.51) by $1.41. The business had revenue of $2.18 billion during 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%. On average, research analysts anticipate that XPeng Inc. 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.