Envestnet Asset Management Inc. Sells 11,425 Shares of Xometry, Inc. (NASDAQ:XMTR)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Xometry, Inc. by 32.4%, selling 11,425 shares to hold a total of 23,869 shares valued at approximately $595,000.
• Institutional investors now own 97.31% of Xometry's stock, with several firms either increasing their holdings or establishing new positions.
• Analysts have set a mixed outlook for Xometry, with target price adjustments ranging from $20.00 to $38.00, reflecting varied ratings from "underweight" to "overweight."

Envestnet Asset Management Inc. trimmed its position in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 32.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 23,869 shares of the company's stock after selling 11,425 shares during the period. Envestnet Asset Management Inc.'s holdings in Xometry were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Xometry by 160.1% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the company's stock valued at $25,000 after acquiring an additional 618 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Xometry in the fourth quarter valued at about $38,000. Comerica Bank boosted its stake in Xometry by 195.1% in the fourth quarter. Comerica Bank now owns 1,133 shares of the company's stock valued at $48,000 after acquiring an additional 749 shares during the last quarter. CoreCap Advisors LLC purchased a new position in Xometry in the fourth quarter valued at about $51,000. Finally, Centaurus Financial Inc. purchased a new position in Xometry in the fourth quarter valued at about $159,000. 97.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on XMTR. Cantor Fitzgerald boosted their target price on shares of Xometry from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Wednesday, May 7th. UBS Group upped their price target on shares of Xometry from $33.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada upped their price target on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of Xometry in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.78.

Insiders Place Their Bets

In other news, CEO Randolph Altschuler sold 9,332 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total value of $302,263.48. Following the transaction, the chief executive officer owned 319,602 shares of the company's stock, valued at $10,351,908.78. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Emily Rollins sold 10,041 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $30.70, for a total transaction of $308,258.70. Following the completion of the transaction, the director directly owned 11,105 shares in the company, valued at $340,923.50. The trade was a 47.48% decrease in their position. The disclosure for this sale can be found here. 9.66% of the stock is owned by corporate insiders.

Xometry Stock Performance

NASDAQ XMTR opened at $30.97 on Tuesday. Xometry, Inc. has a 1 year low of $11.33 and a 1 year high of $45.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.74 and a quick ratio of 3.70. The stock has a market capitalization of $1.57 billion, a PE ratio of -31.28 and a beta of 0.83. The company's 50 day simple moving average is $33.34 and its two-hundred day simple moving average is $30.30.

About Xometry

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.

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