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

Xometry, Inc. (NASDAQ:XMTR) 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. Approximately 149,010 shares traded hands during trading, a decline of 83% from the average session volume of 879,168 shares. The stock had previously closed at $107.90.

Specifically, CEO Sanjeev Sahni sold 1,500 shares of the company’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $108.80, for a total value of $163,200.00. Following the completion of the sale, the chief executive officer owned 178,291 shares in the company, valued at $19,398,060.80. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on XMTR. Cantor Fitzgerald raised their price objective on shares of Xometry from $85.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Xometry from $78.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Citigroup reiterated a “market outperform” rating on shares of Xometry in a report on Monday, September 21st. Raymond James Financial set a $120.00 target price on shares of Xometry in a research note on Tuesday, September 22nd. Finally, UBS Group raised their target price on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Xometry has an average rating of “Moderate Buy” and an average price target of $113.18.

Xometry Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.20. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of -165.90 and a beta of 1.23. The stock’s fifty day moving average price is $95.54 and its 200-day moving average price is $83.75.

Xometry (NASDAQ:XMTR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. The firm had revenue of $229.28 million during the quarter, compared to analyst estimates of $215.22 million. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue was up 41.1% on a year-over-year basis. Equities research analysts predict that Xometry, Inc. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Xometry

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new position in Xometry during the second quarter valued at $36,000. GAMMA Investing LLC boosted its position in Xometry by 36.5% during the 3rd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $99,000 after acquiring an additional 256 shares during the period. CoreCap Advisors LLC acquired a new stake in Xometry during the 2nd quarter worth about $97,000. Nykredit A S acquired a new stake in Xometry during the 2nd quarter worth about $103,000. Finally, PNC Financial Services Group Inc. grew its stake in Xometry by 74.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,636 shares of the company’s stock valued at $67,000 after acquiring an additional 697 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

Xometry Company Profile

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.