Verition Fund Management LLC Sells 1,144,458 Shares of XPeng Inc. (NYSE:XPEV)

Verition Fund Management LLC cut its holdings in XPeng Inc. (NYSE:XPEV - Free Report) by 95.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,542 shares of the company's stock after selling 1,144,458 shares during the period. Verition Fund Management LLC's holdings in XPeng were worth $677,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. 180 Wealth Advisors LLC bought a new stake in XPeng during the 2nd quarter worth approximately $78,000. Blue Trust Inc. raised its holdings in XPeng by 2,615.9% during the second quarter. Blue Trust Inc. now owns 9,750 shares of the company's stock valued at $75,000 after acquiring an additional 9,391 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of XPeng by 122.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock worth $39,000 after acquiring an additional 2,920 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of XPeng by 119.6% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 111,364 shares of the company's stock worth $816,000 after acquiring an additional 60,643 shares during the period. Finally, Signaturefd LLC raised its stake in XPeng by 19.4% during the 2nd quarter. Signaturefd LLC now owns 24,647 shares of the company's stock valued at $181,000 after purchasing an additional 4,002 shares during the period. Institutional investors own 21.09% of the company's stock.

Analyst Ratings Changes

XPEV has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Sanford C. Bernstein upped their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. UBS Group reaffirmed a "sell" rating and set a $8.80 target price (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. The Goldman Sachs Group cut shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price target on the stock. in a research note on Thursday, November 21st. Finally, China Renaissance upgraded XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.69.

XPeng Trading Down 2.7 %

Shares of NYSE:XPEV traded down $0.36 during trading on Wednesday, hitting $12.79. The company had a trading volume of 9,706,492 shares, compared to its average volume of 13,648,255. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of -15.12 and a beta of 2.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The company has a fifty day simple moving average of $12.28 and a two-hundred day simple moving average of $9.65. XPeng Inc. has a one year low of $6.55 and a one year high of $16.28.

XPeng 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.