48,201 Shares in XP Inc. $XP Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in XP Inc. (NASDAQ:XP) in the third quarter, Holdings Channel.com reports. The fund purchased 48,201 shares of the company’s stock, valued at approximately $1,012,000.

Other large investors have also bought and sold shares of the company. Legacy Wealth Asset Management LLC boosted its holdings in XP by 1.5% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 33,599 shares of the company’s stock worth $705,000 after acquiring an additional 510 shares during the last quarter. Signaturefd LLC raised its holdings in shares of XP by 12.2% in the third quarter. Signaturefd LLC now owns 6,117 shares of the company’s stock valued at $128,000 after purchasing an additional 666 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 781 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of XP during the third quarter valued at about $29,000. Finally, Parallel Advisors LLC lifted its position in shares of XP by 117.3% during the first quarter. Parallel Advisors LLC now owns 3,288 shares of the company’s stock valued at $63,000 after purchasing an additional 1,775 shares in the last quarter. 59.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on XP shares. 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 report on Monday, August 31st. JPMorgan Chase & Co. increased their target price 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. UBS Group upped their price objective on XP from $25.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Citigroup lowered XP from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $15.00 in a research note on Tuesday, October 27th. Finally, Santander lowered shares of XP to a “neutral” rating in a research report on Thursday, October 29th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.17.

XP Stock Up 3.7%

XP opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.80 and a quick ratio of 4.80. XP Inc. has a one year low of $13.78 and a one year high of $32.73. The firm has a market capitalization of $7.82 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 0.32 and a beta of 1.18. The company has a fifty day moving average price of $22.30 and a 200-day moving average price of $19.17.

XP (NASDAQ:XP) last posted its earnings results on Monday, August 17th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $943.55 million during the quarter, compared to analysts’ expectations of $935.15 million. XP had a return on equity of 22.19% and a net margin of 27.20%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 earnings per share. Equities research analysts expect that XP Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Transactions at XP

In related news, Director Bruno Constantino Alexandre dos Santos sold 123,257 shares of the stock in a transaction 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 transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

XP 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.