Park Avenue Securities LLC Acquires 48,201 Shares of XP Inc. $XP

Park Avenue Securities LLC acquired a new position in shares of XP Inc. (NASDAQ:XP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 48,201 shares of the company’s stock, valued at approximately $1,012,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Reyes Financial Architecture Inc. bought a new position in XP in the third quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its stake in shares of XP by 46.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,471 shares of the company’s stock valued at $47,000 after buying an additional 781 shares during the period. Parallel Advisors LLC increased its stake in shares of 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 acquired a new position in shares of XP in the second quarter valued at approximately $91,000. Finally, Strategic Investment Advisors MI bought a new position in XP in the 1st quarter valued at approximately $126,000. Institutional investors and hedge funds own 59.15% of the company’s stock.

XP Price Performance

Shares of XP opened at $14.56 on Wednesday. The firm has a market cap of $7.82 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 0.32 and a beta of 1.18. XP Inc. has a 52-week low of $13.78 and a 52-week high of $32.73. The business’s 50 day moving average price is $22.30 and its two-hundred day moving average price is $19.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.80 and a current ratio of 4.80.

XP (NASDAQ:XP) last released 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 company had revenue of $943.55 million for the quarter, compared to the consensus estimate of $935.15 million. XP had a net margin of 27.20% and a return on equity of 22.19%. XP’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. On average, equities analysts anticipate that XP Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling

In other 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 transaction of $2,413,372.06. Following the transaction, the director directly owned 1,500,000 shares of the company’s stock, valued at $29,370,000. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

Several equities research analysts recently commented on XP shares. UBS Group lifted their target price on shares of XP from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. upped their price target on shares of XP from $26.00 to $38.00 and gave the company 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. Santander lowered shares of XP to a “neutral” rating in a report on Thursday, October 29th. Finally, Itau BBA Securities upgraded shares of XP from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.17.

About XP

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.