Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of XPeng Inc. (NYSE:XPEV) by 14.7% in the 4th quarter, Holdings Channel reports. The fund owned 342,622 shares of the company’s stock after acquiring an additional 43,922 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in XPeng were worth $14,675,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of XPEV. Sowell Financial Services LLC acquired a new position in XPeng during the 4th quarter worth approximately $33,000. Steward Partners Investment Advisory LLC acquired a new position in XPeng during the 3rd quarter worth approximately $28,000. US Bancorp DE acquired a new position in XPeng during the 3rd quarter worth approximately $48,000. IFP Advisors Inc acquired a new position in XPeng during the 3rd quarter worth approximately $55,000. Finally, Castle Rock Wealth Management LLC acquired a new position in XPeng during the 4th quarter worth approximately $217,000.
Several equities analysts have issued reports on XPEV shares. Deutsche Bank Aktiengesellschaft started coverage on XPeng in a research report on Monday, December 14th. They set a “buy” rating and a $58.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on XPeng from $34.70 to $57.71 and gave the stock a “buy” rating in a research report on Monday, November 16th. JPMorgan Chase & Co. boosted their target price on XPeng from $27.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, November 9th. They noted that the move was a valuation call. Smith Barney Citigroup began coverage on XPeng in a report on Wednesday, November 4th. They issued a “buy” rating on the stock. Finally, Daiwa Capital Markets began coverage on XPeng in a report on Monday, December 14th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. XPeng presently has an average rating of “Buy” and a consensus price target of $56.17.
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China and the United States. It offers SUVs under the G3 name; and four-door sports sedan under the P7 name. The company also provides vehicle leasing, bank loans, and auto insurance services.
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