Xometry (NASDAQ:XMTR) Shares Down 5.2% After Insider Selling

Xometry, Inc. (NASDAQ:XMTR) shares dropped 5.2% during trading on Thursday following insider selling activity. The stock traded as low as $86.57 and last traded at $87.02. Approximately 190,643 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 979,600 shares. The stock had previously closed at $91.79.

Specifically, insider Subir Dutt sold 4,943 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $89.20, for a total value of $440,915.60. Following the completion of the transaction, the insider directly owned 97,289 shares in the company, valued at approximately $8,678,178.80. This represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

XMTR has been the subject of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, January 21st. Citizens Jmp upped their price target on shares of Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Zacks Research upgraded shares of Xometry from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Cantor Fitzgerald upgraded shares of Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Thursday, April 30th. Finally, Citigroup increased their price objective on shares of Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Xometry currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Xometry Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.76. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -85.20 and a beta of 1.01. The business’s fifty day simple moving average is $51.86 and its 200 day simple moving average is $56.42.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $205.14 million during the quarter, compared to analysts’ expectations of $188.46 million. Xometry had a negative net margin of 7.01% and a negative return on equity of 4.37%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. On average, research analysts forecast that Xometry, Inc. will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Xometry

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Xometry by 26.5% in the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after purchasing an additional 162 shares during the period. Comerica Bank lifted its stake in shares of Xometry by 17.9% in the third quarter. Comerica Bank now owns 1,140 shares of the company’s stock valued at $62,000 after buying an additional 173 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Xometry by 2.1% in the fourth quarter. M&T Bank Corp now owns 8,590 shares of the company’s stock valued at $510,000 after buying an additional 180 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Xometry by 2.0% in the third quarter. Arizona State Retirement System now owns 13,081 shares of the company’s stock valued at $713,000 after buying an additional 256 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Xometry by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,270 shares of the company’s stock valued at $194,000 after buying an additional 290 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Xometry Company Profile

Xometry, Inc (NASDAQ: XMTR) operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.