XPeng Inc. (NYSE:XPEV) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its position in XPeng Inc. (NYSE:XPEV) by 38.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 269,808 shares of the company’s stock after selling 167,837 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in XPeng were worth $3,159,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of XPEV. Citigroup Inc. lifted its position in shares of XPeng by 14.2% during the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after purchasing an additional 36,560 shares in the last quarter. FMR LLC increased its stake in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after buying an additional 295,536 shares during the period. Flow Traders U.S. LLC acquired a new stake in XPeng during the 3rd quarter worth approximately $360,000. Polymer Capital Management HK LTD purchased a new position in XPeng in the 3rd quarter valued at approximately $487,000. Finally, Point72 Italy S.r.l. acquired a new position in shares of XPeng in the third quarter worth $1,160,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

Analyst Ratings Changes

XPEV has been the subject of a number of recent research reports. Macquarie reiterated a “neutral” rating and issued a $18.00 target price on shares of XPeng in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $24.00 target price on shares of XPeng in a report on Wednesday, March 19th. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $8.80 to $18.00 in a research note on Monday, February 24th. Finally, Bank of America increased their price objective on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.20.

XPeng Stock Performance

NYSE XPEV opened at $20.97 on Wednesday. The company has a fifty day moving average of $19.30 and a two-hundred day moving average of $14.68. The company has a market capitalization of $19.75 billion, a PE ratio of -24.10 and a beta of 2.68. XPeng Inc. has a 1 year low of $6.55 and a 1 year high of $27.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, analysts expect that XPeng Inc. will post -0.96 earnings per share for the current year.

XPeng Company Profile

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.