TMT General Partner Ltd Invests $205.50 Million in XPeng Inc. (NYSE:XPEV)

TMT General Partner Ltd bought a new stake in shares of XPeng Inc. (NYSE:XPEV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,385,893 shares of the company’s stock, valued at approximately $205,501,000. XPeng accounts for 94.0% of TMT General Partner Ltd’s holdings, making the stock its biggest holding. TMT General Partner Ltd owned approximately 1.85% of XPeng at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after buying an additional 2,724,549 shares during the period. Point72 Hong Kong Ltd bought a new stake in XPeng during the 3rd quarter worth approximately $22,047,000. Point72 Europe London LLP purchased a new position in XPeng during the second quarter valued at approximately $5,923,000. Y Intercept Hong Kong Ltd purchased a new position in XPeng during the third quarter valued at approximately $6,233,000. Finally, FMR LLC boosted its position in shares of XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after purchasing an additional 295,536 shares during the period. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPeng Trading Up 2.0 %

NYSE XPEV opened at $14.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. XPeng Inc. has a 1-year low of $6.55 and a 1-year high of $15.68. The business has a 50 day simple moving average of $12.61 and a two-hundred day simple moving average of $10.54.

Analysts Set New Price Targets

Several brokerages have recently commented on XPEV. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. UBS Group reissued a “sell” rating and set a $8.80 price target (up from $8.20) on shares of XPeng in a report on Thursday, December 5th. Citigroup dropped their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.69.

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.