Primecap Management Co. CA Cuts Stock Holdings in XPeng Inc. Sponsored ADR (NYSE:XPEV)

Key Points

• Primecap Management Co. CA has reduced its stake in XPeng Inc. by 8.3%, selling over 1.3 million shares, and now holds approximately 1.52% of the company valued at $298 million.
• A diverse range of institutional investors, including Farther Finance Advisors LLC and Bayforest Capital Ltd, have made significant adjustments to their positions, with some increasing their stakes by over 145%.
• Analysts have varying opinions on XPeng, with Morgan Stanley setting a price target of $28.00 and Goldman Sachs upgrading its rating to "buy", while the stock currently holds an average rating of "Moderate Buy" with a target of $23.73.

Primecap Management Co. CA cut its stake in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,383,785 shares of the company's stock after selling 1,308,190 shares during the quarter. Primecap Management Co. CA owned approximately 1.52% of XPeng worth $298,032,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in XPEV. Farther Finance Advisors LLC lifted its holdings in XPeng by 70.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after buying an additional 532 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of XPeng during the 1st quarter worth about $39,000. Natixis purchased a new stake in XPeng during the fourth quarter worth approximately $43,000. Bayforest Capital Ltd boosted its holdings in XPeng by 145.5% in 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 acquired a new position in XPeng in the first quarter valued at approximately $54,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

XPeng Stock Performance

Shares of NYSE:XPEV traded up $0.24 on Friday, reaching $19.86. The company's stock had a trading volume of 2,423,148 shares, compared to its average volume of 9,658,017. XPeng Inc. Sponsored ADR has a 52-week low of $6.60 and a 52-week high of $27.16. The stock has a market capitalization of $18.84 billion, a P/E ratio of -26.45 and a beta of 2.50. The stock's 50-day moving average is $18.74 and its two-hundred day moving average is $19.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.21 and a quick ratio of 1.07.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($1.51) by $1.41. The firm 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 15.89% and a negative net margin of 10.20%. As a group, sell-side analysts forecast that XPeng Inc. Sponsored ADR will post -0.96 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised shares of XPeng from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $16.40 to $24.00 in a report on Tuesday, June 17th. Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley set a $28.00 price objective on shares of XPeng and gave the company an "overweight" rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.73.

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.