XP (NASDAQ:XP) Reaches New 52-Week Low – Time to Sell?

XP Inc. (NASDAQ:XP)’s share price reached a new 52-week low during trading on Monday. The company traded as low as $14.59 and last traded at $13.7820, with a volume of 6,585,116 shares changing hands. The stock had previously closed at $30.41.

Analysts Set New Price Targets

A number of brokerages have commented on XP. 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. lifted their price objective on XP from $26.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. UBS Group raised their target price on shares of XP from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Citigroup cut shares of XP from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $15.00 in a research note on Tuesday. Finally, Weiss Ratings raised shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, XP has an average rating of “Moderate Buy” and an average target price of $26.80.

XP Trading Up 1.7%

The firm’s 50-day moving average price is $22.46 and its 200-day moving average price is $19.23. The stock has a market capitalization of $8.58 billion, a PE ratio of 8.36 and a beta of 1.01.

XP (NASDAQ:XP) last announced its earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $943.55 million during the quarter, compared to analysts’ expectations of $935.15 million. During the same quarter last year, the firm posted $2.46 EPS. XP’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that XP Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other XP 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of XP. Reyes Financial Architecture Inc. bought a new stake in shares of XP in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its stake in XP by 46.2% in 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. Parallel Advisors LLC grew its stake in XP by 117.3% in the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after purchasing an additional 1,775 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of XP during the second quarter valued at about $91,000. Finally, Signaturefd LLC grew its position in shares of XP by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,117 shares of the company’s stock worth $128,000 after buying an additional 666 shares during the last quarter. 59.15% of the stock is currently owned by hedge funds and other institutional investors.

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.