Coatue Management LLC Sells 5,960,170 Shares of XPeng Inc. (NYSE:XPEV)

Coatue Management LLC decreased its holdings in shares of XPeng Inc. (NYSE:XPEV) by 36.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,379,425 shares of the company’s stock after selling 5,960,170 shares during the quarter. XPeng comprises approximately 1.8% of Coatue Management LLC’s holdings, making the stock its 24th largest position. Coatue Management LLC owned about 1.29% of XPeng worth $461,054,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in XPEV. Exchange Traded Concepts LLC raised its holdings in XPeng by 20.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 2,272 shares of the company’s stock valued at $101,000 after acquiring an additional 378 shares in the last quarter. Credit Agricole S A raised its holdings in XPeng by 16.7% in the 1st quarter. Credit Agricole S A now owns 3,500 shares of the company’s stock valued at $128,000 after acquiring an additional 500 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in XPeng by 8.6% in the 2nd quarter. Vident Investment Advisory LLC now owns 10,117 shares of the company’s stock valued at $449,000 after acquiring an additional 801 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in XPeng by 3.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 28,133 shares of the company’s stock valued at $1,027,000 after acquiring an additional 829 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in XPeng in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

XPEV has been the subject of several recent research reports. Zacks Investment Research cut XPeng from a “buy” rating to a “hold” rating in a report on Saturday, August 21st. Daiwa Capital Markets assumed coverage on XPeng in a report on Wednesday, August 4th. They issued a “buy” rating for the company. Citigroup increased their target price on XPeng from $50.30 to $56.30 and gave the stock a “buy” rating in a report on Friday, July 2nd. Bank of America increased their target price on XPeng from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 1st. Finally, increased their target price on XPeng from $50.30 to $56.30 and gave the stock a “buy” rating in a report on Friday, July 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, XPeng has an average rating of “Buy” and an average target price of $52.67.

XPEV traded down $0.31 during mid-day trading on Thursday, reaching $39.58. The stock had a trading volume of 98,409 shares, compared to its average volume of 15,458,614. The stock has a market capitalization of $31.80 billion and a P/E ratio of -30.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.65 and a current ratio of 3.87. The firm’s fifty day simple moving average is $38.70 and its two-hundred day simple moving average is $36.88. XPeng Inc. has a 52 week low of $18.50 and a 52 week high of $74.49.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Wednesday, August 25th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.21) by ($0.17). XPeng had a negative return on equity of 12.20% and a negative net margin of 33.74%. As a group, analysts expect that XPeng Inc. will post -0.85 EPS for the current fiscal year.

XPeng Profile

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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Institutional Ownership by Quarter for XPeng (NYSE:XPEV)

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