M&G Investment Management Ltd. Trims Stock Position in XPeng Inc. (NYSE:XPEV)

Posted by Defense World Staff on Apr 12th, 2023

M&G Investment Management Ltd. lowered its position in shares of XPeng Inc. (NYSE:XPEV – Get Rating) by 76.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,798 shares of the company’s stock after selling 44,459 shares during the period. M&G Investment Management Ltd.’s holdings in XPeng were worth $138,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of XPEV. E Fund Management Hong Kong Co. Ltd. grew its stake in XPeng by 137.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 228,925 shares of the company’s stock valued at $6,089,000 after acquiring an additional 132,487 shares in the last quarter. American Century Companies Inc. lifted its position in XPeng by 8.3% during the first quarter. American Century Companies Inc. now owns 29,681 shares of the company’s stock valued at $819,000 after purchasing an additional 2,266 shares during the last quarter. US Bancorp DE lifted its position in XPeng by 13.9% during the first quarter. US Bancorp DE now owns 6,271 shares of the company’s stock valued at $173,000 after purchasing an additional 767 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in XPeng by 37.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,385 shares of the company’s stock valued at $507,000 after purchasing an additional 5,021 shares during the last quarter. Finally, BlackRock Inc. lifted its position in XPeng by 3.2% during the first quarter. BlackRock Inc. now owns 20,215,942 shares of the company’s stock valued at $557,756,000 after purchasing an additional 619,993 shares during the last quarter. Hedge funds and other institutional investors own 24.87% of the company’s stock.

XPeng Price Performance

Shares of NYSE XPEV opened at $10.49 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.15. XPeng Inc. has a 52 week low of $6.18 and a 52 week high of $35.35. The firm’s fifty day moving average is $9.59 and its 200 day moving average is $9.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup dropped their target price on shares of XPeng from $8.92 to $7.21 in a research report on Friday, March 17th. JPMorgan Chase & Co. lowered shares of XPeng from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $11.00 to $9.00 in a research report on Wednesday, January 11th. Macquarie lowered shares of XPeng from a “neutral” rating to an “underperform” rating in a research report on Monday, February 13th. Morgan Stanley boosted their price objective on shares of XPeng from $12.00 to $12.50 in a report on Monday, March 20th. Finally, HSBC lowered shares of XPeng from a “buy” rating to a “hold” rating in a report on Friday, February 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, XPeng has an average rating of “Hold” and a consensus target price of $15.72.

About XPeng

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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.

M&G Investment Management Ltd. Trims Stock Position in XPeng Inc. (NYSE:XPEV)

XPeng Price Performance

Wall Street Analysts Forecast Growth

About XPeng

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