Bank of America Corp DE Boosts Position in Xometry, Inc. $XMTR

Key Points

• Bank of America increased its Xometry stake by 23.7% in the first quarter, bringing its holdings to 235,414 shares valued at approximately $9.6 million. Institutional investors collectively own 97.31% of the company.
• Xometry exceeded quarterly expectations, reporting adjusted EPS of $0.16 versus estimates of $0.15 and revenue of $229.28 million versus $215.22 million expected. Revenue rose 41.1% year over year, although the company remained unprofitable.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus rating and an average price target of $108.33; targets include $120 from JPMorgan and $126 from Wedbush. Meanwhile, insiders sold 34,553 shares worth roughly $3.16 million over the past 90 days.

Bank of America Corp DE boosted its holdings in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 23.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,414 shares of the company's stock after purchasing an additional 45,158 shares during the quarter. Bank of America Corp DE owned about 0.45% of Xometry worth $9,614,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Xometry by 5.0% during the first quarter. Royal Bank of Canada now owns 60,669 shares of the company's stock worth $1,511,000 after purchasing an additional 2,899 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Xometry in the 1st quarter valued at $692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 buying an additional 1,877 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 95,154 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of 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 buying an additional 197,013 shares during the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Xometry Stock Up 1.2%

XMTR opened at $84.58 on Tuesday. The business has a 50 day moving average price of $91.45 and a two-hundred day moving average price of $70.53. The company has a quick ratio of 3.20, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.38 billion, a PE ratio of -140.96 and a beta of 1.29. Xometry, Inc. has a 52 week low of $35.86 and a 52 week high of $106.08.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Xometry had a negative return on equity of 2.88% and a negative net margin of 3.82%.The company had revenue of $229.28 million during the quarter, compared to analysts' expectations of $215.22 million. During the same period last year, the firm earned $0.09 EPS. The firm's revenue for the quarter was up 41.1% on a year-over-year basis. As a group, research analysts anticipate that Xometry, Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wedbush assumed coverage on shares of Xometry in a research report on Thursday, July 16th. They issued an "outperform" rating and a $126.00 price target for the company. Royal Bank Of Canada raised their price objective on Xometry from $85.00 to $100.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. initiated coverage on Xometry in a research report on Monday. They set an "overweight" rating and a $120.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Xometry in a report on Friday, May 29th. Finally, The Goldman Sachs Group upped their target price on Xometry from $78.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $108.33.

Insider Buying and Selling

In other Xometry news, Director Emily Rollins sold 5,000 shares of the company'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 completion of the transaction, the director owned 15,136 shares in the company, valued at approximately $1,276,116.16. This represents a 24.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fabio Rosati sold 8,100 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $91.45, for a total transaction of $740,745.00. Following the transaction, the director owned 93,567 shares of the company's stock, valued at approximately $8,556,702.15. The trade was a 7.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,553 shares of company stock worth $3,159,518 in the last ninety days. Insiders own 9.10% of the company's stock.

Xometry Company Profile

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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