Polar Capital Holdings Plc Takes $6.60 Million Position in XPeng Inc. (NYSE:XPEV)

Polar Capital Holdings Plc bought a new position in XPeng Inc. (NYSE:XPEV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 558,000 shares of the company’s stock, valued at approximately $6,596,000.

A number of other hedge funds also recently bought and sold shares of the company. Alibaba Group Holding Ltd lifted its position in XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after buying an additional 6,650,000 shares during the last quarter. TMT General Partner Ltd purchased a new position in XPeng in the 4th quarter worth approximately $205,501,000. JPMorgan Chase & Co. increased its stake in XPeng by 1,138.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after purchasing an additional 4,227,055 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in XPeng by 947.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock worth $20,800,000 after purchasing an additional 1,591,750 shares during the period. Finally, Renaissance Technologies LLC increased its stake in XPeng by 51.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,073,367 shares of the company’s stock worth $12,687,000 after purchasing an additional 366,667 shares during the period. Institutional investors own 21.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on XPEV shares. Nomura raised XPeng from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $30.00 in a research note on Wednesday, March 19th. Daiwa Capital Markets reissued a “neutral” rating and issued a $24.00 target price on shares of XPeng in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 19th. Bank of America upped their price target on XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Finally, Nomura Securities raised XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.20.

XPeng Stock Performance

NYSE:XPEV opened at $20.65 on Friday. 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 Inc. has a 12-month low of $6.60 and a 12-month high of $27.16. The stock has a 50-day moving average price of $20.33 and a 200 day moving average price of $16.50. The stock has a market capitalization of $19.60 billion, a P/E ratio of -23.74 and a beta of 2.64.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $16.11 billion. Equities research analysts forecast that XPeng Inc. will post -0.96 EPS for the current fiscal year.

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.