Alibaba Group Holding Ltd lessened its stake in XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,872,212 shares of the company's stock after selling 3,087,020 shares during the quarter. XPeng comprises about 89.3% of Alibaba Group Holding Ltd's holdings, making the stock its largest holding. Alibaba Group Holding Ltd owned approximately 3.67% of XPeng worth $722,552,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of XPEV. Farther Finance Advisors LLC boosted its holdings in XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after acquiring an additional 532 shares during the period. Atlas Capital Advisors Inc. boosted its holdings in XPeng by 651.0% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock worth $31,000 after acquiring an additional 1,302 shares during the period. Garde Capital Inc. purchased a new position in XPeng in the 1st quarter worth approximately $39,000. SVB Wealth LLC purchased a new position in XPeng in the 1st quarter worth approximately $46,000. Finally, Bayforest Capital Ltd boosted its holdings in XPeng by 145.5% in the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock worth $47,000 after acquiring an additional 1,353 shares during the period. Hedge funds and other institutional investors own 21.09% of the company's stock.
XPeng Stock Performance
XPEV stock opened at $20.79 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The firm has a market cap of $19.73 billion, a P/E ratio of -33.00 and a beta of 2.51. XPeng Inc. Sponsored ADR has a 12-month low of $8.06 and a 12-month high of $27.16. The stock's 50 day simple moving average is $19.44 and its 200 day simple moving average is $19.87.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on XPEV shares. Macquarie upped their price target on XPeng from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. BNP Paribas assumed coverage on XPeng in a research note on Monday, August 18th. They set a "hold" rating for the company. Bank of America increased their target price on XPeng from $25.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. Morgan Stanley set a $28.00 target price on XPeng and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, BNP Paribas Exane assumed coverage on XPeng in a research note on Monday, August 18th. They set a "neutral" rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, XPeng currently has an average rating of "Moderate Buy" and a consensus target price of $23.85.
View Our Latest Report on XPEV
XPeng Profile
(
Free Report)
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.
Further Reading
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