XP Inc. $XP Position Cut by Investment House LLC

Investment House LLC lessened its position in XP Inc. (NASDAQ:XP) by 73.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 filing with the SEC.

Several other hedge funds also recently bought and sold shares of XP. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in XP during the 1st quarter worth $3,071,000. Lazard Asset Management LLC grew its stake in XP by 244.9% in the first quarter. Lazard Asset Management LLC now owns 206,689 shares of the company’s stock valued at $3,935,000 after acquiring an additional 146,763 shares during the period. National Pension Service grew its stake in XP by 94.1% in the second quarter. National Pension Service now owns 207,699 shares of the company’s stock valued at $3,377,000 after acquiring an additional 100,677 shares during the period. Quantinno Capital Management LP increased its holdings in shares of XP by 44.9% in the first quarter. Quantinno Capital Management LP now owns 209,252 shares of the company’s stock worth $3,984,000 after acquiring an additional 64,829 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of XP by 33.4% in the first quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock worth $98,004,000 after acquiring an additional 1,289,393 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group lifted their price objective on XP from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Itau BBA Securities upgraded 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. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Citigroup increased their target price on XP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.80.

XP Trading Up 3.6%

XP opened at $30.41 on Friday. 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. The firm’s fifty day simple moving average is $22.54 and its 200 day simple moving average is $19.12. The stock has a market capitalization of $16.34 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.67 and a beta of 1.01.

XP (NASDAQ:XP) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%. 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 business earned $2.46 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that XP Inc. will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other XP news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the transaction, the director owned 1,500,000 shares in the company, valued at approximately $29,370,000. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

XP 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.