Primecap Management Co. CA Sells 468,340 Shares of XPeng Inc. (NYSE:XPEV)

Primecap Management Co. CA cut its stake in shares of XPeng Inc. (NYSE:XPEV - Free Report) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,953,045 shares of the company's stock after selling 468,340 shares during the quarter. Primecap Management Co. CA owned about 1.69% of XPeng worth $194,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of XPeng by 83.0% during the first quarter. Sei Investments Co. now owns 129,400 shares of the company's stock valued at $994,000 after buying an additional 58,700 shares during the last quarter. Natixis purchased a new stake in shares of XPeng during the first quarter valued at $38,000. Alpine Global Management LLC purchased a new stake in shares of XPeng during the first quarter valued at $307,000. Tidal Investments LLC boosted its position in shares of XPeng by 25.2% during the first quarter. Tidal Investments LLC now owns 93,420 shares of the company's stock valued at $717,000 after buying an additional 18,826 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of XPeng by 100.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company's stock valued at $8,864,000 after buying an additional 550,000 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors.

XPeng Stock Performance

Shares of XPEV opened at $12.64 on Thursday. The business's 50 day moving average is $11.68 and its 200 day moving average is $9.24. XPeng Inc. has a 12-month low of $6.55 and a 12-month high of $18.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

XPeng (NYSE:XPEV - Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.63%. Equities research analysts expect that XPeng Inc. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on XPEV. Macquarie raised XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Bank of America dropped their target price on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised XPeng from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $8.00 to $11.50 in a research report on Thursday, September 5th. Citigroup dropped their target price on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Sanford C. Bernstein lifted their price objective on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, XPeng currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.20.

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.

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