Xometry, Inc. (NASDAQ:XMTR – Get Free Report) was up 5.8% during mid-day trading on Friday. The company traded as high as $101.95 and last traded at $103.0420. Approximately 174,306 shares changed hands during trading, a decline of 80% from the average session volume of 891,029 shares. The stock had previously closed at $97.38.
Analyst Upgrades and Downgrades
XMTR has been the subject of several recent analyst reports. Raymond James Financial set a $120.00 price objective on shares of Xometry in a research note on Tuesday. Wedbush initiated coverage on shares of Xometry in a research note on Thursday, July 16th. They set an “outperform” rating and a $126.00 price objective on the stock. UBS Group lifted their price target on shares of Xometry from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. BNP Paribas Exane assumed coverage on Xometry in a research note on Friday, September 18th. They set an “outperform” rating and a $120.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xometry in a report on Wednesday, August 26th. Eight equities research 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.com, the company has an average rating of “Moderate Buy” and an average price target of $113.18.
Read Our Latest Analysis on XMTR
Xometry Stock Performance
Xometry (NASDAQ:XMTR – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating 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 company had revenue of $229.28 million during the quarter, compared to the consensus estimate of $215.22 million. During the same period in the prior year, the company earned $0.09 EPS. Xometry’s revenue was up 41.1% on a year-over-year basis. On average, analysts expect that Xometry, Inc. will post -0.01 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Emily Rollins sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $84.31, for a total transaction of $421,550.00. Following the transaction, the director owned 15,136 shares in the company, valued at approximately $1,276,116.16. This trade represents a 24.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjeev Sahni sold 1,500 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $85.23, for a total value of $127,845.00. Following the sale, the chief executive officer owned 180,903 shares of the company’s stock, valued at approximately $15,418,362.69. This trade represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 57,053 shares of company stock worth $5,244,213. Corporate insiders own 9.10% of the company’s stock.
Institutional Trading of Xometry
A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP grew its position in Xometry by 759.5% during the first quarter. Quantinno Capital Management LP now owns 32,694 shares of the company’s stock worth $1,335,000 after buying an additional 28,890 shares in the last quarter. Sylebra Capital LLC boosted its position in shares of Xometry by 31.3% during the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company’s stock valued at $21,875,000 after acquiring an additional 127,637 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Xometry in the 1st quarter worth approximately $1,150,000. Polen Capital Management LLC grew its position in Xometry by 169.3% in the fourth quarter. Polen Capital Management LLC now owns 22,321 shares of the company’s stock valued at $1,327,000 after acquiring an additional 14,031 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Xometry in the 1st quarter valued at $510,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.
About Xometry
Xometry, Inc operates a digital marketplace that connects businesses with manufacturing suppliers. Its platform uses software and data-driven tools to help customers obtain quotes, place orders and manage production for custom parts and products.
The company supports a range of manufacturing processes, including CNC machining, 3D printing, sheet-metal fabrication, injection molding and urethane casting. Its services are used for prototyping and production across industries such as aerospace, automotive, industrial equipment, consumer products and healthcare.
Founded in 2013, Xometry has expanded its marketplace and related technology offerings through organic development and acquisitions, including the 2021 acquisition of Thomas, a digital industrial sourcing and marketing business.
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