XP Inc. $XP Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D reduced its XP Inc. stake by 35.4% in the fourth quarter, selling 62,272 shares and leaving it with 113,593 shares valued at about $1.86 million.
• XP’s latest quarterly results beat expectations, with EPS of $0.46 versus the $0.45 consensus and revenue up 10.3% year over year to $806.08 million.
• Analyst sentiment remains generally positive: UBS raised its price target to $28, and the stock currently carries a Moderate Buy rating with an average price target of $22.86.

State of New Jersey Common Pension Fund D cut its stake in XP Inc. (NASDAQ:XP - Free Report) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,593 shares of the company's stock after selling 62,272 shares during the period. State of New Jersey Common Pension Fund D's holdings in XP were worth $1,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Dodge & Cox lifted its position in XP by 0.5% in the third quarter. Dodge & Cox now owns 34,478,145 shares of the company's stock worth $647,844,000 after purchasing an additional 169,700 shares during the period. ARGA Investment Management LP raised its stake in shares of XP by 119.2% in the 4th quarter. ARGA Investment Management LP now owns 19,900,087 shares of the company's stock worth $325,764,000 after buying an additional 10,820,050 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of XP by 74.4% in the 3rd quarter. Schroder Investment Management Group now owns 12,288,191 shares of the company's stock worth $230,895,000 after buying an additional 5,240,306 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of XP by 11.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,263,021 shares of the company's stock worth $200,746,000 after buying an additional 1,300,982 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of XP by 1.3% in the second quarter. State Street Corp now owns 9,696,864 shares of the company's stock valued at $195,877,000 after buying an additional 125,818 shares during the period. Institutional investors and hedge funds own 59.15% of the company's stock.

XP Stock Performance

Shares of NASDAQ XP opened at $19.17 on Monday. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. XP Inc. has a 12 month low of $15.61 and a 12 month high of $23.13. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.61 and a beta of 1.17. The business has a fifty day simple moving average of $19.61 and a 200-day simple moving average of $18.81.

XP (NASDAQ:XP - Get Free Report) last issued its quarterly earnings results on Friday, February 13th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. XP had a return on equity of 23.08% and a net margin of 27.51%.The firm had revenue of $806.08 million for the quarter. During the same period in the prior year, the business posted $2.23 EPS. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts predict that XP Inc. will post 2.06 EPS for the current year.

Analyst Upgrades and Downgrades

XP has been the topic of a number of research analyst reports. UBS Group lifted their target price on XP from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Zacks Research downgraded shares of XP from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Finally, Jefferies Financial Group began coverage on shares of XP in a research note on Monday, January 19th. They issued a "buy" rating and a $22.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, XP has an average rating of "Moderate Buy" and an average price target of $22.86.

XP Profile

XP Inc provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients.

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