State of New Jersey Common Pension Fund D Sells 91,519 Shares of XPeng Inc. (NYSE:XPEV)

State of New Jersey Common Pension Fund D decreased its position in XPeng Inc. (NYSE:XPEVGet Rating) by 42.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 121,823 shares of the company’s stock after selling 91,519 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in XPeng were worth $1,456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in XPeng by 17.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,439 shares of the company’s stock worth $125,000 after buying an additional 1,560 shares during the last quarter. Activest Wealth Management bought a new stake in XPeng in the third quarter valued at approximately $36,000. Royal London Asset Management Ltd. lifted its position in XPeng by 10.5% in the second quarter. Royal London Asset Management Ltd. now owns 586,400 shares of the company’s stock valued at $18,624,000 after purchasing an additional 55,900 shares during the last quarter. Legal & General Group Plc lifted its position in XPeng by 13.2% in the second quarter. Legal & General Group Plc now owns 4,084,660 shares of the company’s stock valued at $129,647,000 after purchasing an additional 476,486 shares during the last quarter. Finally, ExodusPoint Capital Management LP lifted its position in XPeng by 58.6% in the second quarter. ExodusPoint Capital Management LP now owns 251,455 shares of the company’s stock valued at $7,981,000 after purchasing an additional 92,933 shares during the last quarter. Institutional investors own 24.87% of the company’s stock.

Analyst Upgrades and Downgrades

XPEV has been the subject of several recent research reports. UBS Group upgraded XPeng from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $34.00 to $13.00 in a research report on Thursday, November 17th. China Renaissance downgraded XPeng from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.50 to $11.30 in a research report on Friday, December 2nd. Jefferies Financial Group downgraded XPeng from a “hold” rating to an “underperform” rating in a research report on Monday, November 28th. JPMorgan Chase & Co. downgraded XPeng from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $11.00 to $9.00 in a report on Wednesday, January 11th. Finally, Barclays decreased their target price on XPeng from $22.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, October 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, XPeng presently has an average rating of “Hold” and an average price target of $25.03.

XPeng Price Performance

Shares of XPEV stock opened at $9.40 on Friday. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -6.62 and a beta of 2.86. The business’s fifty day moving average is $9.68 and its 200 day moving average is $14.58. XPeng Inc. has a twelve month low of $6.18 and a twelve month high of $44.01. The company has a quick ratio of 1.70, a current ratio of 1.89 and a debt-to-equity ratio of 0.10.

XPeng (NYSE:XPEVGet Rating) last released its earnings results on Wednesday, November 30th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.10. XPeng had a negative return on equity of 19.76% and a negative net margin of 26.32%. The firm had revenue of $959.23 million for the quarter. Research analysts expect that XPeng Inc. will post -1.41 EPS for the current fiscal year.

XPeng Profile

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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.

See Also

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Institutional Ownership by Quarter for XPeng (NYSE:XPEV)

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