XP Inc. $XP Stock Acquired by Ninety One North America Inc.

Ninety One North America Inc. raised its position in shares of XP Inc. (NASDAQ:XP) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 1,843,127 shares of the company’s stock after purchasing an additional 21,082 shares during the period. XP makes up approximately 2.0% of Ninety One North America Inc.’s holdings, making the stock its 17th biggest holding. Ninety One North America Inc.’s holdings in XP were worth $38,696,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of XP by 46.2% during the 1st 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. Parallel Advisors LLC raised its holdings in shares of XP by 117.3% during 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of XP during the 2nd quarter valued at about $91,000. Strategic Investment Advisors MI bought a new stake in XP in the 1st quarter worth approximately $126,000. Finally, 9823 Capital L.P. bought a new stake in XP in the 4th quarter worth approximately $183,000. Institutional investors own 59.15% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at XP

In related news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the business’s stock in a transaction dated 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 transaction, the director owned 1,500,000 shares in the company, valued at $29,370,000. The trade was a 7.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

XP Trading Down 0.8%

XP traded down $0.25 on Thursday, hitting $30.24. 5,696,771 shares of the company were exchanged, compared to its average volume of 6,597,895. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80. The firm has a fifty day simple moving average of $20.55 and a two-hundred day simple moving average of $18.54. The stock has a market capitalization of $16.25 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.01. XP Inc. has a 12 month low of $14.80 and a 12 month high of $32.73.

XP (NASDAQ:XP) last issued its quarterly earnings data on Monday, August 17th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 earnings per share. Sell-side analysts expect that XP Inc. will post 2.09 earnings per share for the current year.

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.