XP Inc. $XP Shares Newly Bought by Gimbal Financial

Gimbal Financial purchased a new position in XP Inc. (NASDAQ:XP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 433,875 shares of the company’s stock, valued at approximately $9,109,000. XP makes up about 5.3% of Gimbal Financial’s investment portfolio, making the stock its 7th biggest holding.

Several other institutional investors have also made changes to their positions in XP. EverSource Wealth Advisors LLC grew its position in 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 in the last quarter. Parallel Advisors LLC increased its stake in XP by 117.3% in the 1st quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after buying an additional 1,775 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in XP in the 2nd quarter worth approximately $91,000. Strategic Investment Advisors MI purchased a new stake in XP in the 1st quarter worth approximately $126,000. Finally, Deltec Asset Management LLC purchased a new stake in XP in the 1st quarter worth approximately $248,000. 59.15% of the stock is currently owned by institutional investors and hedge funds.

XP Stock Up 2.9%

XP traded up $0.85 during midday trading on Monday, hitting $30.08. 5,094,970 shares of the company’s stock traded hands, compared to its average volume of 6,629,671. The company has a market cap of $16.17 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.78 and a beta of 1.01. The stock’s fifty day simple moving average is $21.08 and its 200-day simple moving average is $18.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. XP Inc. has a one year low of $14.80 and a one year high of $32.73.

XP (NASDAQ:XP) last posted its earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $943.55 million during the quarter, compared to the consensus estimate of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 earnings per share. As a group, equities analysts anticipate that XP Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup boosted their price target on shares of XP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. JPMorgan Chase & Co. upped their price target 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. 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 report on Monday, August 31st. Weiss Ratings raised XP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Finally, UBS Group lifted their price objective on XP from $25.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.80.

Insider Buying and Selling at XP

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 shares were sold at an average price of $19.58, for a total transaction 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 trade represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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.