MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Position in XPeng Inc. Sponsored ADR $XPEV

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in XPeng Inc. by 44.6%, selling 244,806 shares, which left them with a total of 304,260 shares worth approximately $6.3 million.
• In contrast, BNP Paribas Financial Markets significantly increased its stake by 567.4% in the same quarter, owning over 5.3 million shares valued at around $110 million.
• Wall Street analysts have mixed views, with the consensus rating for XPeng stock being a "Moderate Buy" and a target price averaging around $23.85, with Goldman Sachs recently upgrading it to a "buy" rating with a price target of $24.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,260 shares of the company's stock after selling 244,806 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in XPeng were worth $6,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in XPEV. Dimensional Fund Advisors LP acquired a new position in shares of XPeng during the 4th quarter worth approximately $122,000. Northern Trust Corp boosted its holdings in shares of XPeng by 20.9% during the 4th quarter. Northern Trust Corp now owns 160,733 shares of the company's stock worth $1,900,000 after purchasing an additional 27,838 shares during the last quarter. Ethic Inc. boosted its holdings in shares of XPeng by 111.2% during the 4th quarter. Ethic Inc. now owns 71,092 shares of the company's stock worth $840,000 after purchasing an additional 37,428 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of XPeng by 10.1% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 62,727 shares of the company's stock worth $741,000 after purchasing an additional 5,767 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of XPeng by 46.4% during the 4th quarter. Man Group plc now owns 294,141 shares of the company's stock worth $3,477,000 after purchasing an additional 93,160 shares during the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

XPEV has been the topic of several recent research reports. BNP Paribas Exane began coverage on XPeng in a report on Monday, August 18th. They set a "neutral" rating and a $19.00 target price on the stock. The Goldman Sachs Group upgraded XPeng from a "neutral" rating to a "buy" rating and upped their price objective for the company from $16.40 to $24.00 in a report on Tuesday, June 17th. Sanford C. Bernstein set a $19.00 price objective on XPeng and gave the company a "market perform" rating in a report on Thursday, May 22nd. BNP Paribas began coverage on XPeng in a report on Monday, August 18th. They issued a "hold" rating on the stock. Finally, Macquarie upped their price objective on XPeng from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, XPeng presently has an average rating of "Moderate Buy" and an average price target of $23.85.

XPeng Trading Up 0.5%

NYSE XPEV traded up $0.11 on Tuesday, reaching $21.44. The stock had a trading volume of 7,139,802 shares, compared to its average volume of 10,142,030. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of -34.03 and a beta of 2.51. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. XPeng Inc. Sponsored ADR has a 12-month low of $8.62 and a 12-month high of $27.16. The stock has a fifty day moving average price of $19.89 and a two-hundred day moving average price of $19.96.

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.