Allspring Global Investments Holdings LLC Boosts Stake in Xometry, Inc. $XMTR

Key Points

• Allspring Global Investments sharply increased its Xometry stake by 243.6% in Q1, ending with 694,390 shares worth about $29.0 million, or roughly 1.34% of the company.
• Insider selling was reported, including CTO Vaidyanathan Raghavan and insider Subir Dutt, with both transactions tied to tax withholding on vested equity awards. Overall, insiders sold 80,496 shares in the last quarter.
• Xometry’s business results and outlook remain strong, as its latest quarter beat EPS and revenue estimates and revenue rose 35.9% year over year; analysts currently have a consensus Hold rating with an average price target of $84.25.

Allspring Global Investments Holdings LLC lifted its stake in shares of Xometry, Inc. (NASDAQ:XMTR - Free Report) by 243.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 694,390 shares of the company's stock after acquiring an additional 492,285 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.34% of Xometry worth $29,015,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in XMTR. Kemnay Advisory Services Inc. bought a new position in shares of Xometry during the 4th quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in shares of Xometry during the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its position in Xometry by 26.5% in the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $46,000 after buying an additional 162 shares during the last quarter. Leonteq Securities AG purchased a new stake in Xometry in the fourth quarter worth approximately $59,000. Finally, Comerica Bank boosted its stake in Xometry by 17.9% in the third quarter. Comerica Bank now owns 1,140 shares of the company's stock worth $62,000 after buying an additional 173 shares in the last quarter. Institutional investors own 97.31% of the company's stock.

Insider Transactions at Xometry

In other news, CTO Vaidyanathan Raghavan sold 1,866 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $93.21, for a total transaction of $173,929.86. Following the transaction, the chief technology officer directly owned 140,777 shares of the company's stock, valued at approximately $13,121,824.17. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Subir Dutt sold 1,073 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $93.39, for a total transaction of $100,207.47. Following the completion of the sale, the insider directly owned 93,716 shares of the company's stock, valued at approximately $8,752,137.24. This represents a 1.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 80,496 shares of company stock worth $7,124,340. Corporate insiders own 9.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on XMTR shares. Citizens Jmp lifted their price target on shares of Xometry from $75.00 to $100.00 and gave the stock a "market outperform" rating in a research note on Friday, May 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $78.00 target price on shares of Xometry in a report on Friday, May 8th. Wedbush initiated coverage on shares of Xometry in a research report on Thursday. They issued an "outperform" rating and a $126.00 target price on the stock. Citigroup boosted their price target on shares of Xometry from $65.00 to $98.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Finally, Cantor Fitzgerald upgraded shares of Xometry from a "neutral" rating to an "overweight" rating and set a $62.00 price target for the company in a research report on Thursday, April 30th. Six 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. According to data from MarketBeat.com, Xometry currently has a consensus rating of "Hold" and an average target price of $84.25.

Xometry Stock Performance

NASDAQ:XMTR opened at $98.54 on Monday. The firm has a market capitalization of $5.11 billion, a P/E ratio of -96.61 and a beta of 1.27. The company has a quick ratio of 1.76, a current ratio of 1.78 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $90.32 and a 200 day moving average of $65.65. Xometry, Inc. has a 52 week low of $30.63 and a 52 week high of $102.00.

Xometry (NASDAQ:XMTR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. The firm had revenue of $205.14 million for 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 company's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, research analysts predict that Xometry, Inc. will post -0.06 earnings per share for the current year.

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.

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