Invesco Ltd. Lowers Stock Position in XPeng Inc. (NYSE:XPEV)

Invesco Ltd. trimmed its holdings in XPeng Inc. (NYSE:XPEV - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 642,580 shares of the company's stock after selling 272,650 shares during the period. Invesco Ltd. owned 0.07% of XPeng worth $7,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TMT General Partner Ltd acquired a new stake in XPeng during the fourth quarter worth approximately $205,501,000. JPMorgan Chase & Co. lifted its holdings in XPeng by 1,138.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock worth $54,354,000 after purchasing an additional 4,227,055 shares during the last quarter. Van ECK Associates Corp boosted its stake in XPeng by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 253,875 shares of the company's stock valued at $3,001,000 after purchasing an additional 31,538 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in XPeng by 1.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 214,411 shares of the company's stock valued at $2,534,000 after buying an additional 3,821 shares in the last quarter. Finally, AI Squared Management Ltd bought a new position in XPeng during the 4th quarter worth $2,126,000. 21.09% of the stock is currently owned by institutional investors.

XPeng Price Performance

XPEV stock traded down $0.72 during trading on Friday, hitting $20.08. 7,280,280 shares of the company's stock traded hands, compared to its average volume of 12,895,514. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of -23.08 and a beta of 2.62. XPeng Inc. has a 52 week low of $6.60 and a 52 week high of $27.16. 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 business has a fifty day simple moving average of $20.54 and a 200 day simple moving average of $15.71.

XPeng (NYSE:XPEV - Get Free Report) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $16.11 billion. As a group, research analysts expect that XPeng Inc. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

XPEV has been the topic of a number of recent research reports. Nomura Securities raised shares of XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on shares of XPeng from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, March 19th. Barclays boosted their price target on XPeng from $7.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Daiwa Capital Markets restated a "neutral" rating and set a $24.00 price objective on shares of XPeng in a research note on Wednesday, March 19th. Finally, Macquarie reissued a "neutral" rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.20.

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.