Harel Insurance Investments & Financial Services Ltd. Sells 2,503 Shares of XPeng Inc. (NYSE:XPEV)

Harel Insurance Investments & Financial Services Ltd. decreased its stake in XPeng Inc. (NYSE:XPEV) by 53.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,189 shares of the company’s stock after selling 2,503 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in XPeng were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after buying an additional 2,564 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of XPeng in the third quarter valued at about $45,000. Venturi Wealth Management LLC bought a new position in shares of XPeng in the third quarter worth about $110,000. Atomi Financial Group Inc. purchased a new stake in shares of XPeng during the third quarter worth about $129,000. Finally, Sequoia Financial Advisors LLC raised its stake in XPeng by 24.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock valued at $163,000 after purchasing an additional 2,609 shares during the period. Institutional investors own 21.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on XPEV. 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. 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 note on Friday, November 22nd. Citigroup decreased their price target on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, UBS Group reiterated a “sell” rating and issued a $8.80 target price (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. One equities 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.69.

XPeng Trading Up 3.1 %

XPEV opened at $14.69 on Monday. The stock has a 50-day moving average of $12.70 and a 200 day moving average of $10.79. 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 Inc. has a 12 month low of $6.55 and a 12 month high of $15.68. The firm has a market cap of $13.84 billion, a P/E ratio of -16.88 and a beta of 2.74.

About XPeng

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.