Legato Capital Management LLC Purchases Shares of 142,442 908 Devices Inc. (NASDAQ:MASS)

Legato Capital Management LLC purchased a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 142,442 shares of the company's stock, valued at approximately $638,000. Legato Capital Management LLC owned approximately 0.40% of 908 Devices at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of 908 Devices by 190.9% during the 4th quarter. Bank of America Corp DE now owns 94,753 shares of the company's stock worth $208,000 after acquiring an additional 62,179 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in 908 Devices in the first quarter valued at approximately $45,000. Geode Capital Management LLC boosted its position in 908 Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock valued at $1,279,000 after buying an additional 13,512 shares in the last quarter. Northern Trust Corp boosted its position in 908 Devices by 7.5% in the fourth quarter. Northern Trust Corp now owns 200,764 shares of the company's stock valued at $442,000 after buying an additional 14,087 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in 908 Devices by 32.2% in the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock valued at $46,000 after buying an additional 5,112 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity

In related news, insider Michael S. Turner sold 16,082 shares of 908 Devices stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the completion of the transaction, the insider owned 8,521 shares of the company's stock, valued at $63,992.71. This trade represents a 65.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $7.08, for a total transaction of $49,135.20. Following the transaction, the chief financial officer directly owned 102,930 shares of the company's stock, valued at $728,744.40. This represents a 6.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,543 shares of company stock valued at $233,890. Insiders own 23.70% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research report on Saturday, July 12th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, 908 Devices presently has a consensus rating of "Moderate Buy" and an average price target of $5.33.

908 Devices Stock Up 0.5%

Shares of MASS stock traded up $0.04 during trading hours on Friday, hitting $7.42. 180,547 shares of the company's stock traded hands, compared to its average volume of 400,317. The stock's 50 day simple moving average is $6.59 and its 200 day simple moving average is $4.67. The stock has a market cap of $266.08 million, a PE ratio of -13.74 and a beta of 0.38. 908 Devices Inc. has a 12 month low of $1.81 and a 12 month high of $8.06.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The firm had revenue of $11.78 million during the quarter, compared to the consensus estimate of $11.90 million. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. As a group, equities research analysts expect that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

908 Devices Company 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.