XP Inc. (NASDAQ:XP – Get Free Report) shares rose 3.7% during mid-day trading on Thursday. The company traded as high as $30.50 and last traded at $30.6220. Approximately 1,059,596 shares changed hands during trading, a decline of 84% from the average session volume of 6,473,323 shares. The stock had previously closed at $29.53.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on XP shares. Weiss Ratings upgraded XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. raised their target price on XP from $26.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup upped their price target on XP from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Itau BBA Securities raised shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Monday, August 31st. Finally, UBS Group boosted their target price on shares of XP from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.80.
Read Our Latest Stock Analysis on XP
XP Price Performance
XP (NASDAQ:XP – Get Free Report) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. XP had a net margin of 27.20% and a return on equity of 22.19%. The firm had revenue of $943.55 million for the quarter, compared to analysts’ expectations of $935.15 million. During the same period in the prior year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts forecast that XP Inc. will post 2.09 EPS for the current fiscal year.
Insider Activity
In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $19.58, for a total value of $2,413,372.06. Following the sale, the director owned 1,500,000 shares in the company, valued at approximately $29,370,000. This represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Institutional Trading of XP
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legacy Wealth Asset Management LLC lifted its holdings in XP by 1.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 33,599 shares of the company’s stock worth $705,000 after acquiring an additional 510 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of XP by 46.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock valued at $47,000 after purchasing an additional 781 shares during the last quarter. Inspire Investing LLC raised its position in shares of XP by 1.0% during the 1st quarter. Inspire Investing LLC now owns 89,121 shares of the company’s stock worth $1,697,000 after purchasing an additional 906 shares during the period. Parallel Advisors LLC lifted its holdings in shares of XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock worth $63,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC grew its stake in XP by 7.4% during the 1st quarter. Drucker Wealth 3.0 LLC now owns 36,176 shares of the company’s stock worth $689,000 after buying an additional 2,507 shares during the last quarter. 59.15% of the stock is owned by institutional investors.
About XP
XP Inc is a Brazil-based financial services platform that provides investment, banking and related financial products to individuals, businesses and institutional clients. Through its digital platforms and network of financial professionals, the company offers access to investments such as stocks, bonds, mutual funds, exchange-traded funds, real estate funds, retirement products and insurance.
The company operates a portfolio of brands that includes XP, Rico and Clear, serving customers with different investment needs and levels of experience.
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