Xometry, Inc. (NASDAQ:XMTR) Position Lessened by Legato Capital Management LLC

Key Points

• Legato Capital Management LLC significantly reduced its position in Xometry, Inc. by 70% in Q1 2023, now holding 11,235 shares valued at approximately $280,000.
• In recent insider trading, CEO Randolph Altschuler and Director Emily Rollins sold shares, resulting in a decrease of their holdings by 2.84% and 47.48%, respectively.
• Analysts have varying ratings for Xometry, with a consensus rated as a "Moderate Buy" and an average price target of $35.78, reflecting positive sentiment in the market.

Legato Capital Management LLC decreased its position in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 70.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,235 shares of the company's stock after selling 26,255 shares during the period. Legato Capital Management LLC's holdings in Xometry were worth $280,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Xometry in the fourth quarter valued at $38,000. GAMMA Investing LLC boosted its stake in shares of Xometry by 160.1% during 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. Comerica Bank boosted its stake in shares of Xometry by 195.1% during 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 acquired a new stake in shares of Xometry during the fourth quarter valued at $51,000. Finally, CWM LLC boosted its stake in shares of Xometry by 825.6% during the first quarter. CWM LLC now owns 1,555 shares of the company's stock valued at $39,000 after acquiring an additional 1,387 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Xometry

In other news, CEO Randolph Altschuler sold 9,332 shares of Xometry stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $32.39, for a total value of $302,263.48. Following the completion of the transaction, the chief executive officer owned 319,602 shares in the company, valued at approximately $10,351,908.78. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emily Rollins sold 10,041 shares of Xometry stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $30.70, for a total value of $308,258.70. Following the completion of the transaction, the director owned 11,105 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

Xometry Price Performance

NASDAQ XMTR traded up $1.10 during mid-day trading on Friday, reaching $32.62. 373,658 shares of the company's stock traded hands, compared to its average volume of 587,236. Xometry, Inc. has a 1-year low of $11.33 and a 1-year high of $45.33. The company has a fifty day simple moving average of $33.60 and a 200-day simple moving average of $30.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.74 and a quick ratio of 3.70.

Xometry Profile

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.