HighMark Wealth Management LLC Buys Shares of 241,000 908 Devices Inc. $MASS

HighMark Wealth Management LLC bought a new stake in shares of 908 Devices Inc. (NASDAQ:MASS) in the fourth quarter, Holdings Channel reports. The fund bought 241,000 shares of the company’s stock, valued at approximately $1,265,000. 908 Devices accounts for approximately 0.5% of HighMark Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Light Asset Management LLC increased its stake in shares of 908 Devices by 135.2% during the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock valued at $21,992,000 after purchasing an additional 1,442,883 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of 908 Devices by 11.7% during the second quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock valued at $4,697,000 after purchasing an additional 68,764 shares in the last quarter. Marshall Wace LLP increased its stake in shares of 908 Devices by 359.4% during the second quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock valued at $4,626,000 after purchasing an additional 507,562 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of 908 Devices by 3.3% during the fourth quarter. First Eagle Investment Management LLC now owns 623,883 shares of the company’s stock valued at $3,275,000 after buying an additional 19,921 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in shares of 908 Devices by 3.5% during the third quarter. Essex Investment Management Co. LLC now owns 493,949 shares of the company’s stock valued at $4,327,000 after buying an additional 16,607 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP John Kenneweg sold 7,787 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.83, for a total value of $53,185.21. Following the sale, the senior vice president owned 76,039 shares in the company, valued at approximately $519,346.37. This trade represents a 9.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $7.23, for a total transaction of $144,600.00. Following the completion of the sale, the director owned 925,559 shares in the company, valued at $6,691,791.57. This represents a 2.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 94,480 shares of company stock worth $668,032. 28.20% of the stock is owned by insiders.

908 Devices Stock Down 1.4%

NASDAQ:MASS opened at $7.54 on Thursday. The company’s 50 day moving average price is $6.74 and its 200-day moving average price is $6.47. 908 Devices Inc. has a 52 week low of $4.20 and a 52 week high of $9.34. The stock has a market cap of $285.09 million, a price-to-earnings ratio of -7.54 and a beta of 0.57.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. The firm had revenue of $17.38 million for the quarter, compared to analysts’ expectations of $16.19 million. As a group, sell-side analysts anticipate that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MASS shares. Weiss Ratings cut shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 908 Devices presently has an average rating of “Hold” and an average price target of $12.00.

About 908 Devices

908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company’s core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices’ portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.