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

Primecap Management Co. CA cut its stake in XPeng Inc. (NYSE:XPEV) by 2.9% in the third quarter, Holdings Channel reports. The institutional investor owned 15,953,045 shares of the company’s stock after selling 468,340 shares during the period. Primecap Management Co. CA’s holdings in XPeng were worth $194,308,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of XPEV. Sei Investments Co. increased its stake in XPeng by 83.0% in the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after purchasing an additional 58,700 shares during the period. Natixis purchased a new stake in XPeng in the first quarter worth $38,000. Renaissance Technologies LLC purchased a new position in shares of XPeng during the second quarter valued at $1,006,000. Central Asset Investments & Management Holdings HK Ltd increased its stake in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after buying an additional 108,000 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake 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 period. 23.05% of the stock is currently owned by institutional investors.

XPeng Trading Up 1.0 %

XPeng stock opened at $12.64 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. XPeng Inc. has a 52 week low of $6.55 and a 52 week high of $18.74. The stock has a 50-day moving average price of $11.68 and a 200 day moving average price of $9.24.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on XPEV shares. Citigroup cut their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Bank of America dropped their price objective 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 price objective for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Finally, Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently 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.