Bank of Montreal Can Sells 3,065,751 Shares of XPeng Inc. (NYSE:XPEV)

Bank of Montreal Can lowered its stake in XPeng Inc. (NYSE:XPEV - Free Report) by 97.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,460 shares of the company's stock after selling 3,065,751 shares during the quarter. Bank of Montreal Can's holdings in XPeng were worth $774,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of XPeng by 55.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after acquiring an additional 898 shares during the period. Avior Wealth Management LLC raised its stake in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after purchasing an additional 2,564 shares during the period. Lindbrook Capital LLC raised its stake in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock valued at $40,000 after purchasing an additional 1,138 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of XPeng in the fourth quarter valued at about $41,000. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of XPeng by 1,703.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 8,115 shares of the company's stock worth $96,000 after buying an additional 7,665 shares during the period. Institutional investors own 21.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on XPEV. UBS Group upgraded shares of XPeng from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $8.80 to $18.00 in a report on Monday, February 24th. Daiwa Capital Markets reiterated a "neutral" rating and set a $24.00 target price on shares of XPeng in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on XPeng from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, March 19th. Daiwa America lowered XPeng from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Sanford C. Bernstein set a $18.00 price objective on XPeng and gave the company a "market perform" rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, XPeng presently has an average rating of "Hold" and a consensus target price of $22.20.

XPeng Stock Performance

Shares of NYSE:XPEV traded up $0.31 on Thursday, hitting $20.78. The company had a trading volume of 2,434,988 shares, compared to its average volume of 12,894,890. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of -23.89 and a beta of 2.62. The stock has a 50 day moving average price of $20.41 and a 200 day moving average price of $15.58. XPeng Inc. has a 1-year low of $6.60 and a 1-year high of $27.16. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. Analysts expect that XPeng Inc. will post -0.96 EPS for the current year.

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.