Bank of Montreal Can Has $39.83 Million Position in XPeng Inc. (NYSE:XPEV)

Bank of Montreal Can reduced its stake in XPeng Inc. (NYSE:XPEV) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,131,211 shares of the company’s stock after selling 877,635 shares during the period. Bank of Montreal Can owned 0.33% of XPeng worth $39,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Primecap Management Co. CA increased its holdings in shares of XPeng by 5.6% in the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of XPeng by 100.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after acquiring an additional 550,000 shares in the last quarter. Point72 Europe London LLP acquired a new position in shares of XPeng in the second quarter valued at about $5,923,000. Central Asset Investments & Management Holdings HK Ltd grew its stake in shares of XPeng by 36.0% in the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after acquiring an additional 108,000 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after acquiring an additional 36,560 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on XPEV shares. The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research note on Thursday, November 21st. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, Citigroup cut their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, XPeng currently has an average rating of “Moderate Buy” and an average price target of $12.05.

XPeng Stock Up 4.6 %

XPEV stock opened at $11.91 on Friday. The firm has a 50-day moving average price of $12.02 and a 200-day moving average price of $9.38. The stock has a market capitalization of $11.22 billion, a P/E ratio of -13.69 and a beta of 2.80. XPeng Inc. has a 12 month low of $6.55 and a 12 month high of $18.00. 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 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.