‘We Will Shine’: Cathie Wood’s Optimism and Her 5 Most Ambitious Stock Picks

3. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 26

XPeng Inc. (NYSE:XPEV) is a Chinese company that manufactures and designs smart electric vehicles. The company also offers maintenance, super charging, vehicle leasing, insurance, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services. Cathie Wood’s hedge fund increased its hold on XPeng Inc. (NYSE:XPEV) by 35% in the first quarter of 2022, with 928,648 shares worth $25.6 million. 

On May 23, XPeng Inc. (NYSE:XPEV) posted its Q1 results, reporting a loss per share of $0.27, beating estimates by $0.03. The $1.12 billion revenue also outperformed market consensus estimates by $15.25 million. 

JPMorgan analyst Nick Lai on May 24 reaffirmed an Overweight rating on XPeng Inc. (NYSE:XPEV) but lowered the price target on the stock to $35 from $42. The analyst expects the share price to reflect the “V-shaped rebound in production and profitability” in the second half of 2022.

Among the hedge funds tracked by Insider Monkey, 26 funds were bullish on XPeng Inc. (NYSE:XPEV) at the conclusion of Q1 2022, compared to 29 funds in the previous quarter. Chase Coleman’s Tiger Global Management is the leading shareholder of the company, with 13.7 million shares worth $378.6 million.