MML Investors Services LLC bought a new position in shares of XPeng Inc. (NYSE:XPEV) during the first quarter, Holdings Channel reports. The fund bought 7,869 shares of the company’s stock, valued at approximately $287,000.
Several other institutional investors also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of XPeng by 216.2% during the first quarter. Signaturefd LLC now owns 683 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the period. swisspartners Ltd. raised its position in shares of XPeng by 12.2% during the first quarter. swisspartners Ltd. now owns 5,500 shares of the company’s stock worth $201,000 after purchasing an additional 600 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of XPeng by 3.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 28,133 shares of the company’s stock worth $1,027,000 after purchasing an additional 829 shares during the period. Salem Investment Counselors Inc. acquired a new stake in shares of XPeng during the fourth quarter worth $39,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of XPeng by 6.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 19,100 shares of the company’s stock valued at $818,000 after buying an additional 1,100 shares in the last quarter. 21.39% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded XPeng from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Friday, July 16th. Nomura began coverage on XPeng in a research note on Tuesday, May 25th. They issued a “buy” rating and a $47.00 target price on the stock. Nomura Instinet began coverage on XPeng in a research note on Wednesday, May 26th. They set a “buy” rating and a $47.00 price target for the company. Citigroup upped their price target on XPeng from $50.30 to $56.30 and gave the stock a “buy” rating in a research note on Friday, July 2nd. Finally, upped their price target on XPeng from $50.30 to $56.30 and gave the stock a “buy” rating in a research note on Friday, July 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $51.51.
XPeng (NYSE:XPEV) last issued its quarterly earnings data on Thursday, May 13th. The company reported ($0.88) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.41. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.05 billion. The firm’s revenue was up 616.1% on a year-over-year basis. Equities research analysts predict that XPeng Inc. will post -0.72 EPS for the current fiscal year.
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 name; and four-door sports sedan under the P7 name. The company also provides sales contract, maintenance, super charging, vehicle leasing, and ride-hailing services.
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