XP Inc. $XP Stock: JGP Global Gestao de Recursos Ltda. Grows Position

JGP Global Gestao de Recursos Ltda. grew its position in XP Inc. (NASDAQ:XP) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,766 shares of the company’s stock after purchasing an additional 22,547 shares during the period. XP makes up approximately 33.5% of JGP Global Gestao de Recursos Ltda.’s holdings, making the stock its largest holding. JGP Global Gestao de Recursos Ltda. owned approximately 0.13% of XP worth $14,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of XP. EverSource Wealth Advisors LLC increased its position in XP by 46.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock worth $47,000 after purchasing an additional 781 shares in the last quarter. Parallel Advisors LLC raised its holdings 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 buying an additional 1,775 shares during the period. Integrated Wealth Concepts LLC purchased a new position in XP in the second quarter valued at approximately $91,000. Strategic Investment Advisors MI acquired a new position in XP during the first quarter valued at approximately $126,000. Finally, Deltec Asset Management LLC acquired a new position in XP during the first quarter valued at approximately $248,000. 59.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XP has been the subject of several research reports. Itau BBA Securities upgraded 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. JPMorgan Chase & Co. increased their price objective on shares of XP from $26.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Weiss Ratings raised shares of XP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Citigroup raised their target price 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. Finally, UBS Group lifted their target price on shares of XP from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.80.

Insider Buying and Selling

In other XP news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 1,500,000 shares in the company, valued at $29,370,000. This represents a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

XP Trading Down 2.7%

Shares of XP opened at $29.23 on Friday. XP Inc. has a 12 month low of $14.80 and a 12 month high of $32.73. The stock’s 50-day moving average is $21.08 and its two-hundred day moving average is $18.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. The stock has a market cap of $15.71 billion, a PE ratio of 15.30, a P/E/G ratio of 0.78 and a beta of 1.01.

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