Goldman Sachs Group Inc. Has $334,000 Stock Holdings in 908 Devices Inc. $MASS

Key Points

• Goldman Sachs Group Inc. reduced its stake in 908 Devices Inc. by 71.7%, now holding approximately 0.21%, worth $334,000 after selling 189,601 shares.
• Institutional investors currently own 88.06% of 908 Devices, with several firms adjusting their positions during the first quarter, including CWM LLC increasing its stake by over 541%.
• Analyst ratings on 908 Devices vary, with Wall Street Zen upgrading it to a "hold" and Leerink Partners giving it a "strong-buy" rating and a price target of $12.00.

Goldman Sachs Group Inc. cut its holdings in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 71.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,656 shares of the company's stock after selling 189,601 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of 908 Devices worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MASS. Bank of New York Mellon Corp boosted its position in 908 Devices by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company's stock valued at $233,000 after buying an additional 1,985 shares during the period. American Century Companies Inc. raised its holdings in shares of 908 Devices by 10.8% during the first quarter. American Century Companies Inc. now owns 45,814 shares of the company's stock worth $205,000 after purchasing an additional 4,471 shares during the last quarter. CWM LLC boosted its position in 908 Devices by 541.2% during the first quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after acquiring an additional 5,877 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in 908 Devices during the 1st quarter worth approximately $45,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 908 Devices by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 212,230 shares of the company's stock worth $951,000 after acquiring an additional 10,462 shares during the period. Institutional investors own 88.06% of the company's stock.

Insider Buying and Selling at 908 Devices

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 5,000 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the chief financial officer owned 97,930 shares in the company, valued at approximately $692,365.10. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 23.70% of the company's stock.

Wall Street Analysts Forecast Growth

MASS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of 908 Devices from a "sell" rating to a "hold" rating in a research report on Monday, September 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, September 13th. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Leerink Partners upgraded 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat, 908 Devices presently has an average rating of "Buy" and a consensus price target of $8.00.

908 Devices Trading Down 2.6%

MASS stock opened at $8.01 on Friday. The firm has a 50-day moving average price of $6.54 and a 200-day moving average price of $5.87. 908 Devices Inc. has a 12 month low of $1.81 and a 12 month high of $8.28. The stock has a market capitalization of $287.24 million, a P/E ratio of -14.83 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%.The firm had revenue of $4.70 million during the quarter, compared to analysts' expectations of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. As a group, equities analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

908 Devices Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.

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