5 Stocks to Sell According to Chase Coleman’s Tiger Global

2. XP Inc. (NASDAQ:XP)

Number of Hedge Fund Holders: 31

XP Inc. (NASDAQ:XP) is a Brazilian company that offers financial products and services such as securities brokerage, private pension plans, commercial, and investment banking products. Tiger Global acquired a stake in XP Inc. (NASDAQ:XP) in Q4 2019. The hedge fund sold its $5.7 million position in the company in the first quarter of 2022. 

Citi analyst Gabriel Gusan upgraded XP Inc. (NASDAQ:XP) on May 9 to Buy from Neutral with a price target of $26, down from $31, stating that its core performance indicators may have bottomed and also noted what he calls an “appealing valuation” with shares down 53% over the past year. 

According to Insider Monkey’s Q1 2022 data, 31 hedge funds were long XP Inc. (NASDAQ:XP), compared to 33 funds in the earlier quarter. Billionaire Andreas Halvorsen’s Viking Global reported a prominent position in the company, with 9.4 million shares worth $284.2 million. 

Here is what Harding Loevner Emerging Markets Equity Fund has to say about XP Inc. (NASDAQ:XP) in its Q4 2021 investor letter:

“Shares of another new Brazilian holding, XP, the country’s premier online investment platform, also sold off as tough economic conditions outweighed management’s optimism about prospective growth from new business lines in pensions, credit cards, and loans. Performance was helped by stock selection and our underweight in China.”