Laird Norton Wetherby Wealth Management LLC Grows Position in XPeng Inc. (NYSE:XPEV)

Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of XPeng Inc. (NYSE:XPEV) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,727 shares of the company’s stock after buying an additional 5,767 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in XPeng were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of XPEV. Alibaba Group Holding Ltd boosted its position in XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after purchasing an additional 6,650,000 shares during the last quarter. TMT General Partner Ltd purchased a new position in XPeng in the fourth quarter worth about $205,501,000. JPMorgan Chase & Co. boosted its position in XPeng by 1,138.1% in the fourth 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 last quarter. Renaissance Technologies LLC boosted its position in XPeng by 51.9% in the fourth 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 last quarter. Finally, BNP Paribas Financial Markets purchased a new position in XPeng in the fourth quarter worth about $9,398,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPeng Price Performance

Shares of XPEV opened at $20.77 on Thursday. The business’s 50 day moving average is $20.37 and its 200 day moving average is $16.44. The company has a market capitalization of $19.71 billion, a PE ratio of -23.87 and a beta of 2.64. XPeng Inc. has a 12-month low of $6.60 and a 12-month high of $27.16. 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 (NYSE:XPEV) last issued its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $1.17. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate 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.

Analysts Set New Price Targets

Several research analysts have issued reports on XPEV shares. Sanford C. Bernstein set a $18.00 target price on XPeng and gave the stock a “market perform” rating in a research report on Wednesday, March 19th. Bank of America lifted their price objective on XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Daiwa America cut XPeng from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $24.00 price objective on shares of XPeng in a research report on Wednesday, March 19th. Finally, Macquarie reaffirmed a “neutral” rating and set a $18.00 price objective on shares of XPeng in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average 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.