Cresset Asset Management LLC Lowers Position in XPeng Inc. (NYSE:XPEV)

Cresset Asset Management LLC decreased its position in shares of XPeng Inc. (NYSE:XPEV) by 43.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,378 shares of the company’s stock after selling 24,535 shares during the quarter. Cresset Asset Management LLC’s holdings in XPeng were worth $383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after purchasing an additional 898 shares during the period. Avior Wealth Management LLC grew its stake in shares of XPeng by 1,215.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after purchasing an additional 2,564 shares during the period. Lindbrook Capital LLC grew its stake in shares of XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after purchasing an additional 1,138 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of XPeng during the 4th quarter worth approximately $41,000. Finally, Natixis acquired a new stake in shares of XPeng during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

XPeng Trading Down 1.2%

Shares of XPEV stock opened at $20.65 on Friday. The stock’s fifty day moving average is $20.33 and its two-hundred day moving average is $16.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The firm has a market capitalization of $19.60 billion, a P/E ratio of -23.74 and a beta of 2.64. XPeng Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $27.16.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Research analysts expect that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XPEV. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $30.00 in a research note on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and set a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. Daiwa America lowered XPeng from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their target price on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Finally, Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.70 to $29.00 in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.20.

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.