XP Inc. $XP Shares Bought by Ninety One UK Ltd

Ninety One UK Ltd increased its position in XP Inc. (NASDAQ:XP) by 23.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,962,623 shares of the company’s stock after acquiring an additional 1,904,034 shares during the quarter. Ninety One UK Ltd’s holdings in XP were worth $209,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. ARGA Investment Management LP lifted its holdings in XP by 4.0% in the first quarter. ARGA Investment Management LP now owns 20,699,135 shares of the company’s stock valued at $394,112,000 after acquiring an additional 799,048 shares during the period. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 1,289,393 shares during the period. Assenagon Asset Management S.A. increased its position in shares of 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 purchasing an additional 1,146,057 shares during the last quarter. Ninety One North America Inc. increased its position in shares of XP by 1.2% during the 3rd quarter. Ninety One North America Inc. now owns 1,843,127 shares of the company’s stock valued at $38,696,000 after purchasing an additional 21,082 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of XP by 2.4% during the 1st quarter. Sei Investments Co. now owns 1,626,489 shares of the company’s stock valued at $30,968,000 after purchasing an additional 37,929 shares during the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on XP shares. Citigroup increased their price objective on shares of XP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. UBS Group boosted their target price on shares of XP from $25.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Itau BBA Securities raised shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Monday, August 31st. JPMorgan Chase & Co. increased their price target on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.80.

Insiders Place Their Bets

In other XP news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 1,500,000 shares in the company, valued at $29,370,000. This represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

XP Stock Performance

NASDAQ XP traded down $0.25 on Thursday, hitting $30.24. 5,789,518 shares of the company traded hands, compared to its average volume of 6,600,753. The business’s 50 day moving average price is $20.55 and its 200-day moving average price is $18.54. XP Inc. has a 52-week low of $14.80 and a 52-week 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 company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 0.84 and a beta of 1.01.

XP (NASDAQ:XP) last released its earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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 company had revenue of $943.55 million during the quarter, compared to analyst estimates of $935.15 million. During the same period in the prior year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that XP Inc. will post 2.09 earnings per share for the current year.

XP Company Profile

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.