Comerica Bank Boosts Stake in Xometry, Inc. $XMTR

Key Points

• Comerica Bank dramatically increased its stake in Xometry by 2,427.4% in Q4 to 28,812 shares, valuing its position at about $1.71 million (0.06% ownership).
• Xometry beat quarterly expectations with $0.16 EPS (vs. $0.12 est.) and revenue of $192.4M (up 29.5% YoY), but the company still reports a negative net margin (-8.99%) and negative ROE (-5.49%); analysts’ consensus is a Hold with an average price target of $62.25.
• Institutional ownership is very high at 97.31%, with major increases from firms like Goldman Sachs and Invesco, while insiders sold 67,491 shares (~$3.0M) in the last quarter, leaving insiders with about 9.66% ownership.

Comerica Bank lifted its position in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 2,427.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,812 shares of the company's stock after acquiring an additional 27,672 shares during the period. Comerica Bank owned 0.06% of Xometry worth $1,713,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Xometry by 5.0% in 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 bought a new stake in shares of Xometry during the 1st quarter valued at $692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 worth $649,000 after buying an additional 1,877 shares during the period. 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 worth $11,281,000 after buying an additional 95,154 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Xometry by 476.1% in the 2nd quarter. Invesco Ltd. now owns 238,390 shares of the company's stock worth $8,055,000 after acquiring an additional 197,013 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.

Xometry Stock Up 1.7%

Shares of Xometry stock opened at $56.40 on Thursday. The company has a 50-day simple moving average of $43.46 and a two-hundred day simple moving average of $53.88. The stock has a market capitalization of $2.92 billion, a PE ratio of -46.23 and a beta of 1.01. Xometry, Inc. has a 52-week low of $29.60 and a 52-week high of $73.87. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.72 and a current ratio of 3.76.

Xometry (NASDAQ:XMTR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. The firm had revenue of $192.40 million for the quarter, compared to analysts' expectations of $183.37 million. Xometry had a negative net margin of 8.99% and a negative return on equity of 5.49%. The business's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, analysts anticipate that Xometry, Inc. will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Xometry news, President Sanjeev Singh Sahni sold 9,978 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $43.45, for a total value of $433,544.10. Following the completion of the transaction, the president owned 113,022 shares of the company's stock, valued at approximately $4,910,805.90. The trade was a 8.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vaidyanathan Raghavan sold 4,572 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $43.44, for a total transaction of $198,607.68. Following the transaction, the chief technology officer owned 64,304 shares in the company, valued at $2,793,365.76. This represents a 6.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 67,491 shares of company stock worth $2,997,263. 9.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on XMTR. Wedbush cut their price objective on shares of Xometry from $70.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reissued a "sell (e+)" rating on shares of Xometry in a research report on Wednesday, January 21st. Zacks Research upgraded Xometry from a "strong sell" rating to a "hold" rating in a research note on Monday, March 2nd. Cantor Fitzgerald raised Xometry from a "neutral" rating to an "overweight" rating and set a $62.00 price objective for the company in a research report on Thursday, April 30th. Finally, William Blair reissued an "outperform" rating on shares of Xometry in a report on Tuesday, February 24th. Six 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $62.25.

Xometry 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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