XP Sees Unusually Large Options Volume (NASDAQ:XP)

XP Inc. (NASDAQ:XP) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 145,781 call options on the company. This represents an increase of 1,700% compared to the average daily volume of 8,099 call options.

Insider Activity

In other news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 1,500,000 shares of the company’s stock, valued at $29,370,000. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On XP

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of XP during the 4th quarter valued at approximately $80,196,000. Bank of America Corp DE grew its stake in XP by 33.4% in 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 buying an additional 1,289,393 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in XP by 10.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,799,175 shares of the company’s stock valued at $193,152,000 after acquiring an additional 1,160,977 shares during the period. Assenagon Asset Management S.A. raised its holdings in 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 acquiring an additional 1,146,057 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of XP by 876.6% during the first quarter. Hsbc Holdings PLC now owns 1,062,720 shares of the company’s stock worth $20,179,000 after acquiring an additional 953,902 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

XP has been the topic of several analyst reports. UBS Group cut their target price on XP from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Itau BBA Securities upgraded XP from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Monday, August 31st. 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, XP has a consensus rating of “Moderate Buy” and an average target price of $23.00.

XP Price Performance

XP stock opened at $20.01 on Friday. XP has a 52 week low of $14.80 and a 52 week high of $23.13. The company’s 50 day moving average price is $17.56 and its two-hundred day moving average price is $17.82. The stock has a market cap of $10.75 billion, a P/E ratio of 10.48, a P/E/G ratio of 0.54 and a beta of 1.08. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 0.07.

XP (NASDAQ:XP) last issued its quarterly earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.19% and a net margin of 27.20%.XP’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. On average, equities analysts predict that XP will post 2.07 earnings per share for the current year.

XP Company Profile

XP Inc (NASDAQ: XP) is a Brazilian financial services company that operates an investment platform serving individual investors, financial advisors, corporations and institutional clients. Through its platform and affiliated brands, the company provides access to a broad range of financial products and investment solutions.

Its services include brokerage and custody, investment advisory, portfolio management, banking and credit products, insurance, retirement solutions and financial education.