IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 47,040 Shares of XPeng Inc. (NYSE:XPEV)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in shares of XPeng Inc. (NYSE:XPEV) by 43.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,858 shares of the company’s stock after selling 47,040 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in XPeng were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of XPEV. Citigroup Inc. increased its position in shares of XPeng by 14.2% during the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock worth $3,573,000 after acquiring an additional 36,560 shares in the last quarter. FMR LLC increased its holdings in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after purchasing an additional 295,536 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of XPeng in the third quarter worth approximately $360,000. Point72 Hong Kong Ltd bought a new position in shares of XPeng in the third quarter valued at approximately $22,047,000. Finally, Polymer Capital Management HK LTD purchased a new position in shares of XPeng during the third quarter valued at approximately $487,000. 21.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XPEV has been the topic of several recent analyst reports. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Nomura Securities upgraded shares of XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. dropped their target price on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Finally, Sanford C. Bernstein set a $18.00 target price on XPeng and gave the company a “market perform” rating in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.20.

XPeng Stock Performance

NYSE:XPEV opened at $19.70 on Friday. The company has a market capitalization of $18.56 billion, a P/E ratio of -22.65 and a beta of 2.68. The business has a fifty day simple moving average of $19.05 and a two-hundred day simple moving average of $14.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. XPeng Inc. has a 1 year low of $6.55 and a 1 year 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, topping the consensus estimate of ($1.36) by $1.17. The company had revenue of $2.21 billion during 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%. On average, analysts expect that XPeng Inc. will post -0.96 earnings per share for the current year.

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.