XPeng Inc. Sponsored ADR $XPEV Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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. lowered its position in shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report) by 44.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 304,260 shares of the company's stock after selling 244,806 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in XPeng were worth $6,304,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of XPeng by 567.4% in the 1st quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company's stock valued at $109,959,000 after acquiring an additional 4,511,751 shares during the period. Trexquant Investment LP bought a new stake in shares of XPeng in the 1st quarter worth about $8,514,000. Northern Trust Corp lifted its stake in XPeng by 20.9% during the fourth 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. Quantitative Investment Management LLC acquired a new position in shares of XPeng in the 1st quarter valued at about $856,000. Finally, TMT General Partner Ltd boosted its holdings in shares of XPeng by 88.2% in the 1st quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company's stock valued at $678,099,000 after buying an additional 15,340,907 shares during the period. Institutional investors and hedge funds own 21.09% of the company's stock.

XPeng Trading Down 2.9%

Shares of XPEV stock opened at $20.15 on Thursday. The firm has a fifty day moving average of $19.67 and a 200-day moving average of $19.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 1.14. XPeng Inc. Sponsored ADR has a 52-week low of $8.38 and a 52-week high of $27.16. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of -31.98 and a beta of 2.51.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on XPEV shares. The Goldman Sachs Group raised shares of XPeng from a "neutral" rating to a "buy" rating and boosted their target price for the company from $16.40 to $24.00 in a research note on Tuesday, June 17th. Citigroup upped their price target on XPeng from $29.00 to $29.40 and gave the company a "buy" rating in a report on Wednesday, August 20th. BNP Paribas Exane initiated coverage on shares of XPeng in a report on Monday, August 18th. They set a "neutral" rating and a $19.00 price target on the stock. Sanford C. Bernstein set a $19.00 price objective on shares of XPeng and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Finally, Bank of America boosted their price objective on shares of XPeng from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.85.

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.

Want to see what other hedge funds are holding XPEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPeng Inc. Sponsored ADR (NYSE:XPEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.