Qualtrics International (NASDAQ:XM) Sees Strong Trading Volume

Posted by Eileen French on May 26th, 2023

Qualtrics International Inc. (NASDAQ:XM – Get Rating) saw unusually-strong trading volume on Friday . Approximately 8,203,484 shares were traded during trading, an increase of 99% from the previous session’s volume of 4,124,510 shares.The stock last traded at $18.07 and had previously closed at $18.11.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on XM shares. JPMorgan Chase & Co. downgraded Qualtrics International from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $16.00 to $18.00 in a research report on Thursday, March 9th. StockNews.com assumed coverage on shares of Qualtrics International in a report on Friday, May 19th. They issued a “sell” rating on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $18.15 price target on shares of Qualtrics International in a report on Wednesday, March 8th. BNP Paribas reaffirmed a “neutral” rating and issued a $18.20 price target on shares of Qualtrics International in a report on Friday, March 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Qualtrics International from a “buy” rating to a “hold” rating and upped their price target for the stock from $14.00 to $19.00 in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.93.

Qualtrics International Stock Down 0.2 %

The company’s fifty day simple moving average is $17.94 and its 200 day simple moving average is $17.56. The firm has a market capitalization of $10.96 billion, a PE ratio of -10.41 and a beta of 1.73.

Insider Activity

In related news, President Chris Beckstead sold 169,418 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $17.90, for a total value of $3,032,582.20. Following the completion of the transaction, the president now directly owns 5,007,248 shares in the company, valued at approximately $89,629,739.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Chris Beckstead sold 169,418 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $17.90, for a total value of $3,032,582.20. Following the completion of the transaction, the president now directly owns 5,007,248 shares in the company, valued at approximately $89,629,739.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider De’porres Brightful sold 20,464 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $17.90, for a total transaction of $366,305.60. Following the completion of the transaction, the insider now owns 625,038 shares of the company’s stock, valued at $11,188,180.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 540,702 shares of company stock worth $9,678,566. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Qualtrics International

A number of hedge funds have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. increased its stake in shares of Qualtrics International by 92.7% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 16,445 shares of the company’s stock worth $167,000 after purchasing an additional 7,910 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Qualtrics International in the 3rd quarter worth $180,000. NZS Capital LLC purchased a new stake in shares of Qualtrics International in the 3rd quarter worth $5,190,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Qualtrics International in the 4th quarter worth $1,108,000. Finally, IVY Lane Capital Management LLC purchased a new stake in shares of Qualtrics International in the 4th quarter worth $4,723,000. 21.24% of the stock is currently owned by hedge funds and other institutional investors.

About Qualtrics International

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Qualtrics International Inc operates an experience management platform to manage customer, employee, product, and brand experiences worldwide. The company offers The Qualtrics Experience Management Platform, a system of action that guides users with specific instructions for improvement and automated actions to improve experiences, as well as for listening, understanding, and taking action on both structured and unstructured data.