Xometry (NASDAQ:XMTR) Shares Down 8.3% After Insider Selling

Xometry, Inc. (NASDAQ:XMTR) shares traded down 8.3% on Wednesday after an insider sold shares in the company. The company traded as low as $99.68 and last traded at $98.8970. 149,010 shares traded hands during trading, a decline of 83% from the average daily volume of 879,168 shares. The stock had previously closed at $107.90.

Specifically, CEO Sanjeev Sahni sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $108.80, for a total transaction of $163,200.00. Following the transaction, the chief executive officer directly owned 178,291 shares in the company, valued at $19,398,060.80. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms recently commented on XMTR. The Goldman Sachs Group increased their price target on Xometry from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on Xometry from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. UBS Group upped their target price on Xometry from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. BNP Paribas Exane assumed coverage on Xometry in a report on Friday, September 18th. They issued an “outperform” rating and a $120.00 target price for the company. Finally, Cantor Fitzgerald raised their target price on Xometry from $85.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Eight 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.18.

Xometry Stock Up 4.6%

The firm’s fifty day simple moving average is $95.54 and its two-hundred day simple moving average is $83.75. The company has a current ratio of 3.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -165.90 and a beta of 1.23.

Xometry (NASDAQ:XMTR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $229.28 million during the quarter, compared to the consensus estimate of $215.22 million. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The business’s revenue was up 41.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. Sell-side analysts anticipate that Xometry, Inc. will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Xometry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Xometry by 243.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 694,390 shares of the company’s stock worth $29,015,000 after purchasing an additional 492,285 shares during the period. Wellington Management Group LLP lifted its position in Xometry by 26.9% in the second quarter. Wellington Management Group LLP now owns 1,322,581 shares of the company’s stock valued at $127,656,000 after buying an additional 280,491 shares during the last quarter. Zevenbergen Capital Investments LLC lifted its position in Xometry by 115.1% in the third quarter. Zevenbergen Capital Investments LLC now owns 297,552 shares of the company’s stock valued at $30,603,000 after buying an additional 159,227 shares during the last quarter. Sylebra Capital LLC lifted its position in Xometry by 31.3% in the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after buying an additional 127,637 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Xometry by 45.6% during the first quarter. Sei Investments Co. now owns 274,641 shares of the company’s stock worth $11,216,000 after buying an additional 85,989 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.

About Xometry

Xometry, Inc is a digital manufacturing marketplace that connects businesses with a network of manufacturing suppliers. Its platform uses software and artificial intelligence to help customers obtain quotes, place orders, and manage production for custom parts and components.

The company supports a range of manufacturing processes, including computer numerical control machining, 3D printing, sheet metal fabrication, injection molding, and related services. Xometry serves customers across industries such as aerospace and defense, automotive, industrial machinery, consumer products, and healthcare.

Founded in 2013, Xometry has expanded its marketplace and digital manufacturing services internationally, serving customers and suppliers in North America, Europe, and Asia.