DnB Asset Management AS decreased its stake in shares of XPeng Inc. (NYSE:XPEV – Get Rating) by 77.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,304 shares of the company’s stock after selling 63,225 shares during the quarter. DnB Asset Management AS’s holdings in XPeng were worth $581,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in XPEV. AdvisorNet Financial Inc lifted its position in XPeng by 114.1% during the first quarter. AdvisorNet Financial Inc now owns 2,013 shares of the company’s stock worth $56,000 after buying an additional 1,073 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in XPeng during the first quarter worth $61,000. Captrust Financial Advisors increased its stake in XPeng by 50.0% during the first quarter. Captrust Financial Advisors now owns 2,400 shares of the company’s stock worth $66,000 after acquiring an additional 800 shares during the last quarter. Signaturefd LLC increased its stake in XPeng by 49.0% during the first quarter. Signaturefd LLC now owns 2,779 shares of the company’s stock worth $77,000 after acquiring an additional 914 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its stake in XPeng by 12.5% during the first quarter. Carolinas Wealth Consulting LLC now owns 4,500 shares of the company’s stock worth $124,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 25.15% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Nomura cut XPeng from a “buy” rating to a “neutral” rating and cut their target price for the stock from $64.60 to $36.30 in a research note on Thursday, June 30th. Nomura Instinet reissued a “neutral” rating and set a $36.30 target price on shares of XPeng in a research note on Friday, July 1st. Macquarie cut XPeng from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Wednesday, August 3rd. Barclays cut XPeng from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $30.00 to $22.00 in a research note on Tuesday, August 23rd. Finally, Citigroup dropped their price objective on XPeng from $51.59 to $27.87 and set a “buy” rating for the company in a research note on Wednesday, August 24th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, XPeng has a consensus rating of “Moderate Buy” and a consensus price target of $37.92.
XPeng Trading Down 2.5 %
XPeng (NYSE:XPEV – Get Rating) last released its earnings results on Tuesday, August 23rd. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($2.61) by $2.14. The firm had revenue of $1.11 billion during the quarter. XPeng had a negative return on equity of 17.44% and a negative net margin of 24.82%. Sell-side analysts expect that XPeng Inc. will post -3.82 earnings per share for the current fiscal year.
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.
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