Bank of Montreal Can Sells 877,635 Shares of XPeng Inc. (NYSE:XPEV)

Bank of Montreal Can lessened its holdings in XPeng Inc. (NYSE:XPEV) by 21.9% in the third quarter, Holdings Channel reports. The institutional investor owned 3,131,211 shares of the company’s stock after selling 877,635 shares during the period. Bank of Montreal Can’s holdings in XPeng were worth $39,829,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in XPeng by 14.2% in the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after buying an additional 36,560 shares during the last quarter. Advisors Asset Management Inc. increased its position in XPeng by 48.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after purchasing an additional 16,289 shares during the period. Central Asset Investments & Management Holdings HK Ltd increased its position in XPeng by 36.0% during the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after purchasing an additional 108,000 shares during the period. Venturi Wealth Management LLC acquired a new stake in XPeng during the 3rd quarter valued at approximately $110,000. Finally, Van ECK Associates Corp increased its position in XPeng by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock valued at $2,481,000 after purchasing an additional 10,148 shares during the period. Institutional investors own 23.05% of the company’s stock.

XPeng Stock Performance

Shares of XPEV stock opened at $11.91 on Friday. The firm has a 50 day moving average of $12.02 and a 200-day moving average of $9.38. XPeng Inc. has a 52 week low of $6.55 and a 52 week high of $18.00. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a market cap of $11.22 billion, a price-to-earnings ratio of -13.69 and a beta of 2.80.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a research report on Friday, November 22nd. Bank of America decreased their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research report on Thursday, November 21st. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Citigroup reduced 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 equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.05.

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.