Citigroup Inc. decreased its position in XPeng Inc. (NYSE:XPEV – Get Rating) by 34.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,276 shares of the company’s stock after selling 114,959 shares during the quarter. Citigroup Inc.’s holdings in XPeng were worth $2,180,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP increased its position in shares of XPeng by 1,057.1% during the 3rd quarter. Two Sigma Investments LP now owns 7,686,645 shares of the company’s stock valued at $91,855,000 after purchasing an additional 7,022,327 shares during the last quarter. Renaissance Technologies LLC increased its holdings in XPeng by 74.5% during the third quarter. Renaissance Technologies LLC now owns 6,316,939 shares of the company’s stock worth $75,487,000 after buying an additional 2,696,339 shares during the last quarter. Primecap Management Co. CA boosted its stake in XPeng by 29.1% in the third quarter. Primecap Management Co. CA now owns 11,024,217 shares of the company’s stock valued at $131,739,000 after acquiring an additional 2,484,000 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of XPeng during the 4th quarter valued at approximately $13,916,000. Finally, Two Sigma Advisers LP bought a new position in shares of XPeng during the 3rd quarter valued at approximately $16,452,000. Hedge funds and other institutional investors own 24.87% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on XPeng from $12.00 to $12.50 in a research note on Monday, March 20th. Bank of America reduced their target price on shares of XPeng from $11.00 to $10.70 in a research note on Friday, March 17th. HSBC cut XPeng from a “buy” rating to a “hold” rating in a research report on Friday, February 24th. Citigroup reduced their target price on XPeng from $8.92 to $7.21 in a research note on Friday, March 17th. Finally, Sanford C. Bernstein cut XPeng from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $16.00 to $12.00 in a research note on Friday, March 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.26.
XPeng Trading Down 5.0 %
XPeng (NYSE:XPEV – Get Rating) last announced its quarterly earnings results on Friday, March 17th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.01). XPeng had a negative net margin of 33.78% and a negative return on equity of 23.05%. The company had revenue of $745.28 million for the quarter. As a group, analysts expect that XPeng Inc. will post -1.15 earnings per share for the current fiscal year.
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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