XP Inc. $XP Stock Purchased by ARGA Investment Management LP

ARGA Investment Management LP raised its holdings in XP Inc. (NASDAQ:XP - Free Report) by 10.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,163,927 shares of the company's stock after buying an additional 2,520,545 shares during the quarter. XP comprises 14.5% of ARGA Investment Management LP's holdings, making the stock its largest position. ARGA Investment Management LP owned 5.05% of XP worth $570,307,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in XP. Sumitomo Mitsui Trust Group Inc. boosted its position in XP by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 907,748 shares of the company's stock valued at $19,058,000 after buying an additional 12,319 shares during the last quarter. Park Avenue Securities LLC acquired a new position in XP in the 3rd quarter worth approximately $1,012,000. Signaturefd LLC raised its position in XP by 12.2% during 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. Sterling Capital Management LLC raised its position in XP by 49.6% during the 3rd quarter. Sterling Capital Management LLC now owns 17,675 shares of the company's stock worth $371,000 after buying an additional 5,862 shares during the last quarter. Finally, Reyes Financial Architecture Inc. purchased a new position in XP during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 59.15% of the company's stock.

XP Stock Up 3.7%

Shares of NASDAQ XP opened at $14.56 on Wednesday. The company's 50-day simple moving average is $22.30 and its 200-day simple moving average is $19.17. XP Inc. has a 52-week low of $13.78 and a 52-week high of $32.73. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.18. 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 - Get Free Report) last issued its quarterly earnings results on Monday, August 17th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The firm had revenue of $943.55 million for 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 business's revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. Equities analysts predict that XP Inc. will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of XP stock in a transaction that occurred on 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 completion of the transaction, the director owned 1,500,000 shares in the company, valued at $29,370,000. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings raised XP from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 2nd. Itau BBA Securities upgraded XP from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, August 31st. UBS Group boosted their price target on XP from $25.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, October 8th. Morgan Stanley set a $23.00 price objective on XP in a research report on Thursday, October 29th. Finally, Citigroup cut shares of XP from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $25.00 to $15.00 in a research note on Tuesday, October 27th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, XP has a consensus rating of "Hold" and a consensus price target of $26.17.

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.

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