Sumitomo Mitsui Trust Holdings Inc. Has $18.51 Million Position in XPeng Inc. (NYSE:XPEV)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in XPeng Inc. (NYSE:XPEV – Get Rating) by 5.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,548,947 shares of the company’s stock after selling 91,248 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in XPeng were worth $18,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of XPEV. Tiger Global Management LLC lifted its stake in shares of XPeng by 120.3% in the 1st quarter. Tiger Global Management LLC now owns 13,724,477 shares of the company’s stock valued at $378,658,000 after purchasing an additional 7,495,477 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of XPeng by 256.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,620,600 shares of the company’s stock valued at $114,918,000 after purchasing an additional 2,605,900 shares during the last quarter. FMR LLC lifted its stake in shares of XPeng by 9.9% in the 2nd quarter. FMR LLC now owns 21,404,192 shares of the company’s stock valued at $679,369,000 after purchasing an additional 1,927,917 shares during the last quarter. FIFTHDELTA Ltd lifted its stake in shares of XPeng by 42.0% in the 1st quarter. FIFTHDELTA Ltd now owns 3,897,925 shares of the company’s stock valued at $107,544,000 after purchasing an additional 1,152,301 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in shares of XPeng by 101.2% in the 1st quarter. Bridgewater Associates LP now owns 2,153,216 shares of the company’s stock valued at $59,407,000 after purchasing an additional 1,083,108 shares during the last quarter. Institutional investors and hedge funds own 24.87% of the company’s stock.

Analysts Set New Price Targets

XPEV has been the subject of several analyst reports. China Renaissance lowered shares of XPeng from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.50 to $11.30 in a research note on Friday, December 2nd. Jefferies Financial Group downgraded shares of XPeng from a “hold” rating to an “underperform” rating in a report on Monday, November 28th. Barclays dropped their target price on shares of XPeng from $22.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. Citigroup lifted their target price on shares of XPeng to $8.92 in a report on Friday, December 2nd. Finally, UBS Group upgraded shares of XPeng from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $34.00 to $13.00 in a report on Thursday, November 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.89.

XPeng Stock Performance

NYSE XPEV opened at $11.90 on Friday. The stock has a market cap of $10.18 billion, a P/E ratio of -8.38 and a beta of 2.86. The company’s 50-day simple moving average is $9.12 and its 200 day simple moving average is $16.26. XPeng Inc. has a twelve month low of $6.18 and a twelve month high of $49.72. The company has a quick ratio of 1.70, a current ratio of 1.89 and a debt-to-equity ratio of 0.10.

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.