Xometry, Inc. (NASDAQ:XMTR) Shares Sold by Envestnet Asset Management Inc.

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. cut its position in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 32.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,869 shares of the company's stock after selling 11,425 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Xometry were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of Xometry in the fourth quarter valued at $38,000. GAMMA Investing LLC raised its holdings 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 in the last quarter. Comerica Bank raised its holdings 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 in the last quarter. CoreCap Advisors LLC acquired a new stake in Xometry in the fourth quarter valued at $51,000. Finally, Centaurus Financial Inc. acquired a new stake in Xometry in the fourth quarter valued at $159,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Xometry Stock Performance

Shares of NASDAQ:XMTR traded down $1.69 on Friday, reaching $41.39. 258,281 shares of the company's stock were exchanged, compared to its average volume of 711,994. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -33.97 and a beta of 0.83. Xometry, Inc. has a fifty-two week low of $14.68 and a fifty-two week high of $47.46. The business's 50-day moving average is $33.92 and its two-hundred day moving average is $30.56. The company has a quick ratio of 3.70, a current ratio of 3.91 and a debt-to-equity ratio of 1.20.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.04. The company had revenue of $162.55 million for the quarter, compared to analysts' expectations of $156.53 million. Xometry had a negative net margin of 10.20% and a negative return on equity of 6.79%. The firm's revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, equities research analysts forecast that Xometry, Inc. will post -0.66 EPS for the current year.

Insider Buying and Selling at Xometry

In related news, CEO Randolph Altschuler sold 9,332 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total value of $302,263.48. Following the sale, the chief executive officer owned 319,602 shares of the company's stock, valued at $10,351,908.78. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on XMTR. JMP Securities upped their price target on shares of Xometry from $45.00 to $50.00 and gave the company a "market outperform" rating in a report on Wednesday. Cantor Fitzgerald raised shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price target on the stock in a report on Tuesday. Citigroup reaffirmed an "outperform" rating on shares of Xometry in a report on Friday, July 11th. UBS Group upped their price target on shares of Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Xometry from $33.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.44.

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.