Primecap Management Co. CA Trims Position in XPeng Inc. (NYSE:XPEV)

Primecap Management Co. CA lessened its position in shares of XPeng Inc. (NYSE:XPEV) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,691,975 shares of the company’s stock after selling 261,070 shares during the quarter. Primecap Management Co. CA’s holdings in XPeng were worth $185,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TMT General Partner Ltd purchased a new stake in XPeng in the fourth quarter worth about $205,501,000. Point72 Hong Kong Ltd purchased a new stake in XPeng in the third quarter worth about $22,047,000. Y Intercept Hong Kong Ltd purchased a new stake in XPeng in the third quarter worth about $6,233,000. FMR LLC increased its position in XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after buying an additional 295,536 shares in the last quarter. Finally, Citigroup Inc. increased its position in XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after buying an additional 36,560 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and lifted their target price for the company from $8.80 to $18.00 in a research note on Monday, February 24th. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein lifted their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.63.

XPeng Price Performance

Shares of XPeng stock opened at $24.52 on Tuesday. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of -28.19 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The stock has a 50 day moving average price of $17.48 and a 200-day moving average price of $13.69. XPeng Inc. has a one year low of $6.55 and a one year high of $27.16.

About XPeng

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.