QXO, Inc. (NASDAQ:QXO) Shares Sold by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management LLC reduced its position in QXO, Inc. by 3.5%, holding 402,258 shares worth approximately $5.45 million as of the latest SEC filing.
• Multiple hedge funds have initiated or increased stakes in QXO, with notable increases from Signaturefd LLC and First Horizon Advisors Inc., indicating growing institutional interest.
• Analysts have given QXO a consensus rating of "Buy" with a price target averaging approximately $32.71, highlighting optimism about the company's performance.

Motley Fool Asset Management LLC lessened its position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,258 shares of the company's stock after selling 14,764 shares during the period. Motley Fool Asset Management LLC owned 0.09% of QXO worth $5,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QXO. Vanguard Group Inc. grew its holdings in shares of QXO by 146.1% during the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock valued at $334,539,000 after buying an additional 14,667,571 shares during the last quarter. Affinity Partners GP LP bought a new stake in QXO during the 4th quarter worth approximately $260,941,000. T. Rowe Price Investment Management Inc. grew its stake in QXO by 3.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,886,193 shares of the company's stock worth $173,091,000 after buying an additional 312,299 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in QXO by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company's stock valued at $25,535,000 after buying an additional 8,322 shares during the period. Finally, Barrier Capital Management LLC raised its holdings in QXO by 94.0% in the 4th quarter. Barrier Capital Management LLC now owns 1,227,411 shares of the company's stock worth $19,516,000 after purchasing an additional 594,604 shares in the last quarter. 58.68% of the stock is owned by institutional investors.

QXO Stock Performance

Shares of NASDAQ:QXO traded up $1.12 during midday trading on Wednesday, reaching $21.08. 7,053,398 shares of the company's stock traded hands, compared to its average volume of 5,730,739. The company has a fifty day simple moving average of $21.00 and a two-hundred day simple moving average of $16.38. The company has a market cap of $12.23 billion, a P/E ratio of -2.31, a PEG ratio of 4.09 and a beta of 2.34. QXO, Inc. has a 1 year low of $10.62 and a 1 year high of $24.69.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Baird R W upgraded shares of QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Citigroup started coverage on shares of QXO in a research report on Wednesday, July 16th. They set a "buy" rating and a $33.00 price objective on the stock. Wells Fargo & Company started coverage on shares of QXO in a research note on Tuesday, August 5th. They set an "overweight" rating and a $30.00 price objective for the company. Oppenheimer initiated coverage on shares of QXO in a research note on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price objective for the company. Finally, Royal Bank Of Canada initiated coverage on shares of QXO in a research report on Monday, July 21st. They set an "outperform" rating and a $33.00 price target for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $32.25.

QXO Company Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.