Investment House LLC decreased its stake in shares of XP Inc. (NASDAQ:XP – Free Report) by 73.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,075 shares of the company’s stock after selling 28,550 shares during the period. Investment House LLC’s holdings in XP were worth $212,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Ninety One UK Ltd grew its holdings in XP by 23.6% during the third quarter. Ninety One UK Ltd now owns 9,962,623 shares of the company’s stock worth $209,165,000 after buying an additional 1,904,034 shares in the last quarter. Bank of America Corp DE lifted its stake in XP by 33.4% during the 1st quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock valued at $98,004,000 after acquiring an additional 1,289,393 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in XP by 146.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,930,445 shares of the company’s stock valued at $36,756,000 after acquiring an additional 1,146,057 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in XP by 876.6% during the 1st quarter. Hsbc Holdings PLC now owns 1,062,720 shares of the company’s stock worth $20,179,000 after acquiring an additional 953,902 shares during the last quarter. Finally, ARGA Investment Management LP boosted its holdings in XP by 4.0% during the 1st quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock worth $394,112,000 after acquiring an additional 799,048 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Weiss Ratings raised shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Itau BBA Securities raised shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Monday, August 31st. UBS Group boosted their price target on shares of XP from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Finally, Citigroup upped their price objective on shares of XP from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.80.
XP Stock Performance
Shares of XP opened at $30.41 on Friday. The stock has a 50 day moving average of $22.54 and a 200 day moving average of $19.12. The company has a market capitalization of $16.34 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.67 and a beta of 1.01. XP Inc. has a 12 month low of $14.80 and a 12 month high of $32.73. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07.
XP (NASDAQ:XP – Get Free Report) last posted its quarterly earnings data on Monday, August 17th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%. The business had revenue of $943.55 million for the quarter, compared to analysts’ expectations of $935.15 million. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that XP Inc. will post 2.08 earnings per share for the current year.
Insider Activity
In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total transaction of $2,413,372.06. Following the completion of the sale, the director directly owned 1,500,000 shares of the company’s stock, valued at $29,370,000. This trade represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
XP Company Profile
XP Inc is a Brazilian financial services company that operates a technology-driven investment and financial products platform. Through its digital channels and network of advisors, the company offers access to products including stocks, bonds, investment funds, exchange-traded funds, insurance and retirement products. It serves individual investors, businesses, institutional clients and independent financial advisors.
The company’s principal brands and businesses include XP, Rico and Clear, which provide brokerage and investment services to different customer segments.
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