Northern Trust Corp Raises Stock Position in XPeng Inc. (NYSE:XPEV)

Northern Trust Corp increased its stake in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 20.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 reporting period.

A number of other hedge funds have also recently made changes to their positions in XPEV. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 898 shares during the period. Avior Wealth Management LLC boosted its position in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after buying an additional 2,564 shares during the period. Lindbrook Capital LLC boosted its position 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 period. Golden State Wealth Management LLC purchased a new position in XPeng in the 4th quarter valued at approximately $41,000. Finally, Natixis purchased a new position in XPeng in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

Analyst Ratings Changes

XPEV has been the subject of several recent analyst reports. Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. Bank of America lifted their price objective 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. Citigroup raised shares of XPeng from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. Daiwa America cut shares of XPeng from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Barclays lifted their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.29.

XPeng Stock Down 3.9%

NYSE:XPEV traded down $0.78 during midday trading on Friday, hitting $19.32. 6,427,930 shares of the company were exchanged, compared to its average volume of 12,077,559. The company has a fifty day simple moving average of $19.61 and a 200 day simple moving average of $17.08. XPeng Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $27.16. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.34 billion, a PE ratio of -22.21 and a beta of 2.64.

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. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $15.80 billion. As a group, equities analysts anticipate that XPeng Inc. will post -0.96 earnings per share for the current fiscal 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.