Ninety One North America Inc. Acquires 21,082 Shares of XP Inc. $XP

Ninety One North America Inc. raised its holdings in shares of XP Inc. (NASDAQ:XP) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,843,127 shares of the company’s stock after acquiring an additional 21,082 shares during the quarter. XP comprises approximately 2.0% of Ninety One North America Inc.’s portfolio, making the stock its 17th biggest holding. Ninety One North America Inc. owned approximately 0.34% of XP worth $38,696,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ARGA Investment Management LP grew its position in shares of 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 purchasing an additional 799,048 shares in the last quarter. Bank of America Corp DE lifted its holdings in XP by 33.4% during the 1st quarter. Bank of America Corp DE now owns 5,147,245 shares of the company’s stock worth $98,004,000 after purchasing an additional 1,289,393 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in XP by 146.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,930,445 shares of the company’s stock worth $36,756,000 after purchasing an additional 1,146,057 shares during the period. Sei Investments Co. boosted its stake in XP by 2.4% in the 1st quarter. Sei Investments Co. now owns 1,626,489 shares of the company’s stock worth $30,968,000 after purchasing an additional 37,929 shares during the period. Finally, Amundi boosted its stake in XP by 51.9% in the 1st quarter. Amundi now owns 1,157,087 shares of the company’s stock worth $22,031,000 after purchasing an additional 395,283 shares during the period. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at XP

In other XP news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $19.58, for a total value of $2,413,372.06. Following the sale, the director owned 1,500,000 shares of the company’s stock, valued at $29,370,000. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

XP Price Performance

Shares of XP stock traded down $0.25 during trading on Thursday, hitting $30.24. The stock had a trading volume of 5,696,771 shares, compared to its average volume of 6,597,895. The firm has a market cap 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 Inc. has a 12 month low of $14.80 and a 12 month high of $32.73. The business’s 50-day moving average is $20.55 and its 200 day moving average is $18.54. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 0.07.

XP (NASDAQ:XP) last posted its quarterly earnings data on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. XP had a return on equity of 22.19% and a net margin of 27.20%. The company had revenue of $943.55 million during the quarter, compared to analyst estimates of $935.15 million. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that XP Inc. will post 2.09 earnings per share for the current year.

XP 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.