Cathie Wood’s Latest Portfolio: 5 New Stock Picks

3. XPeng Inc. (NYSE:XPEV)

ARK Investment Management’s Stake Value: $34.71 million

Percentage of ARK Investment Management’s 13F Portfolio: 0.1%

Number of Hedge Fund Holders: 25

XPeng Inc. (NYSE:XPEV) is a leading electric car-maker based in China. XPeng Inc. (NYSE:XPEV) boasts industry-leading delivery speed for its electric vehicles, and new product launches planned in 2022 will allow the firm to expand its dominant growth in EV deliveries.  In December, XPeng Inc. (NYSE:XPEV) sold 16,000 electric vehicles, signaling a 181% year-on-year increase. For 2022, XPeng Inc. (NYSE:XPEV) gave unofficial guidance of 250,000 deliveries and a stretch goal of 300,000 deliveries. Given the company’s exceptional production capacity growth and supply chain strength, these estimates look credible even though they remain above analysts’ estimates.

Investors were eager on XPeng Inc. (NYSE:XPEV) stock in the third quarter of 2021, with 25 hedge funds holding stakes worth $657.2 million. This is up from 19 hedge funds with holdings worth $784.6 million in XPeng Inc. (NYSE:XPEV) at the close of Q2 2021.

On February 8, XPeng Inc. (NYSE:XPEV) was given an ‘Overweight’ rating by Barclays analyst Jiong Shao, and a price target of $33. Initiating his coverage, the analyst sees EV’s among China’s top national priorities, with a ‘rare opportunity’ for EV makers like XPeng Inc. (NYSE:XPEV) to not only command a dominant market share in China but the global market for electric vehicles.