QXO, Inc. $QXO Shares Sold by Madrone Advisors LLC

Madrone Advisors LLC decreased its position in QXO, Inc. (NYSE:QXO) by 17.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,215,198 shares of the company’s stock after selling 900,000 shares during the quarter. QXO comprises 8.0% of Madrone Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Madrone Advisors LLC owned 0.58% of QXO worth $81,859,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in QXO. Baillie Gifford & Co. raised its position in QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after acquiring an additional 14,644,305 shares in the last quarter. Schf GPE LLC grew its position in QXO by 204.3% in the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after acquiring an additional 8,943,089 shares in the last quarter. Norges Bank acquired a new position in shares of QXO during the 4th quarter worth $140,421,000. Fred Alger Management LLC increased its stake in shares of QXO by 75.4% during the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after purchasing an additional 6,844,574 shares during the last quarter. Finally, Sound Shore Management Inc. CT bought a new position in shares of QXO during the 4th quarter valued at $77,199,000. Institutional investors own 58.68% of the company’s stock.

QXO Trading Down 0.9%

Shares of QXO stock opened at $13.71 on Friday. QXO, Inc. has a 1 year low of $13.32 and a 1 year high of $27.61. The firm’s fifty day simple moving average is $16.09 and its 200 day simple moving average is $20.01. The firm has a market capitalization of $9.94 billion, a P/E ratio of -15.06, a price-to-earnings-growth ratio of 3.55 and a beta of 2.23. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. QXO’s revenue was up 12716.3% on a year-over-year basis. As a group, sell-side analysts predict that QXO, Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on QXO. KeyCorp reduced their price objective on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Robert W. Baird lowered their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Research cut QXO from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Finally, Citigroup decreased their price target on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.57.

About QXO

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.