Xometry (NASDAQ:XMTR) Shares Down 10.5% on Insider Selling

Xometry, Inc. (NASDAQ:XMTR) dropped 10.5% on Thursday after an insider sold shares in the company. The stock traded as low as $59.33 and last traded at $56.9130. Approximately 126,689 shares traded hands during trading, a decline of 84% from the average daily volume of 789,966 shares. The stock had previously closed at $63.61.

Specifically, insider Subir Dutt sold 2,500 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $70.00, for a total transaction of $175,000.00. Following the completion of the sale, the insider owned 64,919 shares in the company, valued at approximately $4,544,330. This represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald boosted their price target on Xometry from $41.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on Xometry from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Wedbush upped their target price on Xometry from $48.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Citigroup reiterated an “outperform” rating on shares of Xometry in a report on Wednesday, November 5th. Finally, Citizens Jmp increased their target price on shares of Xometry from $65.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.89.

Xometry Stock Performance

The firm has a market cap of $2.86 billion, a PE ratio of -44.52 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.62 and a quick ratio of 3.58. The stock has a 50-day moving average price of $62.53 and a 200 day moving average price of $54.89.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Swiss National Bank increased its position in Xometry by 2.1% in the 4th quarter. Swiss National Bank now owns 87,600 shares of the company’s stock worth $5,210,000 after purchasing an additional 1,800 shares during the last quarter. Polen Capital Management LLC raised its holdings in shares of Xometry by 169.3% during the 4th quarter. Polen Capital Management LLC now owns 22,321 shares of the company’s stock valued at $1,327,000 after purchasing an additional 14,031 shares in the last quarter. Xponance LLC bought a new stake in Xometry during the 4th quarter valued at approximately $203,000. Deutsche Bank AG boosted its position in Xometry by 2.1% in the fourth quarter. Deutsche Bank AG now owns 35,471 shares of the company’s stock valued at $2,109,000 after buying an additional 724 shares in the last quarter. Finally, Capital International Investors acquired a new position in Xometry during the 4th quarter valued at about $11,949,000. Institutional investors own 97.31% of the company’s stock.

About Xometry

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.