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

Xometry, Inc. (NASDAQ:XMTR) shares were down 5.2% during trading on Thursday after an insider sold shares in the company. The company traded as low as $86.57 and last traded at $87.02. Approximately 190,643 shares changed hands 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 transaction of $440,915.60. Following the completion of the sale, the insider owned 97,289 shares of the company’s stock, 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 is accessible through this hyperlink.

Analysts Set New Price Targets

A number of analysts have recently weighed in on XMTR shares. Citigroup upped their price target on shares of Xometry from $65.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research raised shares of Xometry from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Royal Bank Of Canada upped their price target on shares of Xometry from $55.00 to $85.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, January 21st. Finally, William Blair reiterated an “outperform” rating on shares of Xometry in a research report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Xometry currently has an average rating of “Hold” and an average target price of $76.00.

Xometry Stock Performance

The stock’s 50-day moving average is $51.86 and its 200-day moving average is $56.42. 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 company has a current ratio of 1.78, a quick ratio of 1.76 and a debt-to-equity ratio of 0.86.

Xometry (NASDAQ:XMTR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.12 earnings per share (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 firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. On average, analysts predict that Xometry, Inc. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Xometry

A number of institutional investors have recently added to or reduced their stakes in XMTR. Royal Bank of Canada increased its position in Xometry by 5.0% in the 1st quarter. Royal Bank of Canada now owns 60,669 shares of the company’s stock valued at $1,511,000 after acquiring an additional 2,899 shares during the period. AQR Capital Management LLC acquired a new position in Xometry in the 1st quarter valued at approximately $692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Xometry by 7.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,054 shares of the company’s stock valued at $649,000 after acquiring an additional 1,877 shares during the period. Goldman Sachs Group Inc. increased its position in Xometry by 26.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 452,682 shares of the company’s stock valued at $11,281,000 after acquiring an additional 95,154 shares during the period. Finally, Invesco Ltd. increased its position in Xometry by 476.1% in the 2nd quarter. Invesco Ltd. now owns 238,390 shares of the company’s stock valued at $8,055,000 after acquiring an additional 197,013 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.