XPeng Inc. (NYSE:XPEV) Shares Sold by DnB Asset Management AS

DnB Asset Management AS lessened its stake in XPeng Inc. (NYSE:XPEVGet Rating) by 77.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,304 shares of the company’s stock after selling 63,225 shares during the period. DnB Asset Management AS’s holdings in XPeng were worth $581,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Carolinas Wealth Consulting LLC increased its position in XPeng by 12.5% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 4,500 shares of the company’s stock valued at $124,000 after acquiring an additional 500 shares during the period. AdvisorNet Financial Inc increased its position in XPeng by 27.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,573 shares of the company’s stock worth $82,000 after purchasing an additional 560 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in XPeng by 1.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 67,133 shares of the company’s stock worth $3,379,000 after purchasing an additional 700 shares during the period. US Bancorp DE increased its position in XPeng by 13.9% during the 1st quarter. US Bancorp DE now owns 6,271 shares of the company’s stock worth $173,000 after purchasing an additional 767 shares during the period. Finally, AMF Tjanstepension AB increased its position in XPeng by 0.7% during the 1st quarter. AMF Tjanstepension AB now owns 119,547 shares of the company’s stock worth $3,298,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 25.15% of the company’s stock.

XPeng Price Performance

XPEV stock opened at $13.74 on Friday. XPeng Inc. has a 1 year low of $13.40 and a 1 year high of $56.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.78 and a current ratio of 1.97. The stock’s 50 day moving average price is $20.79 and its 200 day moving average price is $24.48. The firm has a market cap of $11.76 billion, a P/E ratio of -10.41 and a beta of 3.23.

XPeng (NYSE:XPEVGet Rating) last posted its earnings results on Tuesday, August 23rd. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.61) by $2.14. XPeng had a negative return on equity of 17.44% and a negative net margin of 24.82%. The firm had revenue of $1.11 billion for the quarter. On average, sell-side analysts expect that XPeng Inc. will post -3.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on XPEV. Nomura Instinet reiterated a “neutral” rating and set a $36.30 target price on shares of XPeng in a research report on Friday, July 1st. Citigroup dropped their target price on XPeng from $51.59 to $27.87 and set a “buy” rating on the stock in a research report on Wednesday, August 24th. Barclays cut XPeng from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $30.00 to $22.00 in a research report on Tuesday, August 23rd. Nomura cut XPeng from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $64.60 to $36.30 in a report on Thursday, June 30th. Finally, Macquarie cut XPeng from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.92.

About XPeng

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XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.

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Institutional Ownership by Quarter for XPeng (NYSE:XPEV)

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