He Xiaopeng, Xpeng’s CEO, has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 348,708,257 shares of XPeng Inc. American depositary shares, each representing two Class A ordinary shares (US:XPEV). This represents 21.1 percent ownership of the company. In their previous filing dated 2021-02-10 , He Xiaopeng had reported owning 391,752,537 shares, indicating a decrease of -10.99 percent, as initially reported by Marcel Munch on his Twitter account.
Check SEC’s file here.
He Xiaopeng is a Chinese entrepreneur, best known for co-founding companies including XPeng Motors, an intelligent electric vehicle manufacturer, and UCWeb, the Chinese mobile Internet software and service provider he co-founded in 2004.
Barclays Analyst initiated today coverage on the three EV makers Nio, Xpeng and Li Auto. The Analyst set a $45 Price Target for Xpeng.
“Rapid adoption” of electric vehicles around the world and “booming” sales have presented China’s electric vehicle makers a “rare opportunity” to not only take a sizable market share of the
domestic auto market, but also build a dominant position around the world, Barclays analyst Jong Shao tells investors in a research note. The analyst says electric vehicles and smart cars are among China’s top national priorities. Not only is China the world’s largest auto market, its auto industry accounts for over one-third of the global automotive profit, Shao points out. The analyst believes China “has one of the most supportive and well- thought-out government policy agendas” for the electric vehicle industry. With this as a backdrop, Shao initiated coverage with an Overweight rating on the three leading Chinese electric vehicle makers: Li Auto (LI), Nio (NIO) and XPeng Motors (XPEV), with price targets of $38, $34 and $45, respectively.
On February 3rd, ARK Invest Fund, led by Cathie Wood, added more Xpeng shares. ARK bought another 57,657 shares worthing around $2M, based on closing price of $34.52. Earlier that week, the Fund added 55,178 shares (around $2M, also) and on the next day another 14,000 making this one the third buy of this week. Xpeng is currently down 31% Year-to-date.