Fred Alger Management LLC Sells 134,716 Shares of Xometry, Inc. $XMTR

Fred Alger Management LLC decreased its holdings in shares of Xometry, Inc. (NASDAQ:XMTR) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 580,734 shares of the company’s stock after selling 134,716 shares during the quarter. Fred Alger Management LLC’s holdings in Xometry were worth $34,536,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake in Xometry by 54.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock valued at $107,029,000 after purchasing an additional 690,558 shares during the period. First Trust Advisors LP boosted its stake in Xometry by 9.2% during the 4th quarter. First Trust Advisors LP now owns 1,576,075 shares of the company’s stock valued at $93,729,000 after purchasing an additional 132,792 shares during the period. Baillie Gifford & Co. boosted its stake in Xometry by 1.6% during the 4th quarter. Baillie Gifford & Co. now owns 1,306,151 shares of the company’s stock valued at $77,677,000 after purchasing an additional 20,901 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Xometry during the 4th quarter valued at approximately $76,393,000. Finally, State Street Corp boosted its stake in Xometry by 1.2% during the 4th quarter. State Street Corp now owns 978,540 shares of the company’s stock valued at $58,194,000 after purchasing an additional 11,272 shares during the period. Institutional investors own 97.31% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lukas Alexander Biewald bought 47,058 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $85.00 per share, with a total value of $3,999,930.00. Following the acquisition, the director owned 55,134 shares in the company, valued at approximately $4,686,390. This represents a 582.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Randolph Altschuler sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $87.85, for a total value of $4,392,500.00. Following the completion of the transaction, the chief executive officer directly owned 455,248 shares of the company’s stock, valued at approximately $39,993,536.80. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 68,943 shares of company stock worth $5,989,621 in the last 90 days. 9.10% of the stock is owned by corporate insiders.

Xometry Trading Down 1.2%

Xometry stock opened at $85.98 on Wednesday. The business has a 50 day moving average price of $69.89 and a two-hundred day moving average price of $60.20. The company has a quick ratio of 1.76, a current ratio of 1.78 and a debt-to-equity ratio of 0.86. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of -84.29 and a beta of 1.27. Xometry, Inc. has a 12 month low of $29.60 and a 12 month high of $99.86.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $205.14 million during the quarter, compared to analysts’ expectations of $188.46 million. Xometry had a negative return on equity of 4.37% and a negative net margin of 7.01%.The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts forecast that Xometry, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

XMTR has been the subject of several recent analyst reports. Wedbush decreased their target price on Xometry from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Cantor Fitzgerald upgraded Xometry from a “neutral” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Thursday, April 30th. Citizens Jmp upped their price target on Xometry from $75.00 to $100.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Zacks Research raised Xometry from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Royal Bank Of Canada upped their price target on Xometry from $55.00 to $85.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.00.

Xometry 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.