Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 110,557 908 Devices Inc. $MASS

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in 908 Devices Inc. (NASDAQ:MASS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 110,557 shares of the company’s stock, valued at approximately $962,000.

Several other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of 908 Devices in the 2nd quarter worth approximately $48,000. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices in the 1st quarter valued at approximately $61,000. Daiwa Securities Group Inc. acquired a new stake in 908 Devices in the 2nd quarter valued at approximately $61,000. PCM Encore LLC purchased a new stake in 908 Devices in the fourth quarter valued at approximately $62,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in 908 Devices in the second quarter valued at approximately $77,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the sale, the chief financial officer owned 132,956 shares of the company’s stock, valued at $1,200,592.68. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $270,000.00. Following the completion of the sale, the director directly owned 895,559 shares in the company, valued at approximately $8,060,031. This trade represents a 3.24% 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 three months, insiders have sold 106,940 shares of company stock valued at $949,714. Corporate insiders own 28.20% of the company’s stock.

908 Devices Trading Up 3.2%

NASDAQ:MASS opened at $10.68 on Friday. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $10.70. The firm has a market cap of $441.40 million, a PE ratio of -11.24 and a beta of 0.66. The stock has a fifty day moving average price of $8.54 and a 200 day moving average price of $7.53.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $16.07 million for the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. Equities analysts forecast that 908 Devices Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on MASS. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Stifel Nicolaus boosted their price objective on 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Finally, Roth Capital increased their target price on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.50.

908 Devices Profile

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.