Virginia Retirement Systems ET AL made a new investment of $491,000 in XPeng Inc. (NYSE:XPEV)


Virginia Retirement Systems ET AL acquired a new position in shares of XPeng Inc. (NYSE:XPEV – Get Rating ) in the first quarter, HoldingsChannel reports. The firm acquired 17,800 shares of the company’s stock, valued at approximately $491,000.

Several other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of XPeng by 2.0% in the 4th quarter. State Street Corp now owns 7,652,576 shares of the company’s stock valued at $385,154,000 after acquiring an additional 151,104 shares during the last quarter. Primecap Management Co. CA lifted its position in XPeng by 1.3% during the 4th quarter. Primecap Management Co. CA now owns 6,767,487 shares of the company’s stock valued at $340,608,000 after purchasing an additional 86,710 shares during the last quarter. Norges Bank acquired a new position in XPeng during the fourth quarter valued at $241,853,000. Legal & General Group Plc boosted its holdings in shares of XPeng by 40.7% in the fourth quarter. Legal & General Group Plc now owns 3,663,930 shares of the company’s stock valued at $184,405,000 after buying an additional 1,059,022 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in shares of XPeng by 7.9% in the fourth quarter. Credit Suisse AG now owns 1,918,588 shares of the company’s stock valued at $96,563,000 after buying an additional 140,864 shares in the last quarter. Institutional investors own 27.01% of the company’s shares.

A number of equities analysts have commented on XPEV shares. Barclays reduced their price objective on shares of XPeng from $39.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. Nomura downgraded shares of XPeng from a “buy” rating to a “neutral” rating and cut their target price for the company from $64.60 to $36.30 in a report on Thursday, June 30th. Bank of America reduced their price objective on XPeng from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. HSBC began coverage on XPeng in a research note on Friday, April 1st. They issued a “buy” rating and a $37.00 target price for the company. Finally, Morgan Stanley reduced their price objective on XPeng from $71.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, March 23rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.67, according to MarketBeat.com .

Shares of XPEV stock opened at $32.13 on Friday. The stock has a market cap of $27.49 billion, a P/E ratio of -29.75 and a beta of 4.05. XPeng Inc. has a 1-year low of $18.01 and a 1-year high of $56.45. The stock’s 50-day moving average is $26.11, and its 200-day moving average is $31.50. The company has a current ratio of 2.29, a quick ratio of 2.11, and a debt-to-equity ratio of 0.09.

XPeng (NYSE:XPEV – Get Rating ) last announced its quarterly earnings results on Monday, May 23rd. The company reported ($0.32) earnings per share for the quarter. The firm had revenue of $1.18 billion during the quarter. XPeng had a negative net margin of 22.63% and a negative return on equity of 14.59%. As a group, equities analysts predict that XPeng Inc. will report -1.42 EPS for the current year.

About XPeng (Get Rating)

XPeng Inc designs, develops, manufactures and markets smart electric vehicles in the People’s Republic of China. It offers SUVs under the names G3 and G3i; four-door sports sedans under the name P7; and smart electric vehicles and family sedans under the P5 name. The company also provides sales contracts, maintenance, supercharging, vehicle leasing, insurance agency, transportation arrangement, technical support, referral car loans and car financing, music subscription and other services.

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Want to see what other hedge funds are holding XPEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPeng Inc. (NYSE:XPEV – Get Rating).

Institutional Ownership by Quarter for XPeng (NYSE:XPEV)



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