140,710 Shares in QXO, Inc. (NASDAQ:QXO) Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. purchased a new stake in QXO, Inc. (NASDAQ:QXO - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 140,710 shares of the company's stock, valued at approximately $2,219,000.

Several other large investors have also added to or reduced their stakes in QXO. Renaissance Technologies LLC acquired a new stake in QXO during the second quarter worth approximately $432,000. Millennium Management LLC bought a new position in shares of QXO in the second quarter valued at approximately $159,247,000. Driehaus Capital Management LLC bought a new stake in QXO during the second quarter worth $160,859,000. SG Americas Securities LLC bought a new stake in QXO during the third quarter worth $103,000. Finally, Gainplan LLC bought a new stake in QXO during the third quarter worth $55,000. Institutional investors and hedge funds own 58.68% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Mfn Partners, Lp sold 7,000,000 shares of QXO stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.05, for a total value of $105,350,000.00. Following the completion of the transaction, the insider now directly owns 46,908,701 shares in the company, valued at approximately $705,975,950.05. The trade was a 12.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 51.30% of the company's stock.

QXO Trading Up 2.2 %

NASDAQ:QXO traded up $0.30 during trading hours on Wednesday, reaching $13.98. The stock had a trading volume of 1,102,697 shares, compared to its average volume of 2,022,507. The stock has a 50 day moving average of $15.93. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00. The firm has a market capitalization of $5.73 billion, a PE ratio of -1.53, a P/E/G ratio of 3.43 and a beta of 2.32.

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.