Primecap Management Co. CA Sells 164,000 Shares of Xometry, Inc. (NASDAQ:XMTR)

Key Points

• Primecap Management Co. CA has reduced its stake in Xometry, Inc. by 2.5%, selling 164,000 shares and retaining approximately 12.60% of the company worth $157.94 million.
• Equities analysts have raised their price targets for Xometry, with Goldman Sachs increasing theirs from $33 to $42, and the consensus target price now stands at $40.44.
• Xometry's quarterly earnings report showed a profit of $0.09 per share, exceeding analyst expectations and reflecting a 22.6% year-over-year revenue growth to $162.55 million.

Primecap Management Co. CA trimmed its position in shares of Xometry, Inc. (NASDAQ:XMTR - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,337,962 shares of the company's stock after selling 164,000 shares during the quarter. Primecap Management Co. CA owned approximately 12.60% of Xometry worth $157,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of XMTR. Vanguard Group Inc. lifted its holdings in Xometry by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,413,337 shares of the company's stock valued at $109,980,000 after buying an additional 120,065 shares during the period. Vitruvian Partners LLP increased its holdings in shares of Xometry by 25.7% in the first quarter. Vitruvian Partners LLP now owns 334,785 shares of the company's stock worth $8,343,000 after acquiring an additional 68,500 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Xometry during the first quarter worth $310,000. XTX Topco Ltd bought a new stake in shares of Xometry during the first quarter worth $726,000. Finally, Federated Hermes Inc. increased its position in shares of Xometry by 264.2% during the first quarter. Federated Hermes Inc. now owns 37,271 shares of the company's stock worth $929,000 after acquiring an additional 27,036 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XMTR. JMP Securities raised their price objective on Xometry from $45.00 to $50.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. UBS Group lifted their price objective on shares of Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada lifted their price objective on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald upgraded shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 target price for the company in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Xometry from $33.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.44.

Insider Transactions at Xometry

In related news, CEO Randolph Altschuler sold 9,332 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total transaction of $302,263.48. Following the completion of the transaction, the chief executive officer directly owned 319,602 shares in the company, valued at $10,351,908.78. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.66% of the stock is currently owned by corporate insiders.

Xometry Price Performance

Shares of NASDAQ:XMTR traded up $0.91 during midday trading on Monday, hitting $42.55. The stock had a trading volume of 175,254 shares, compared to its average volume of 713,015. The company's 50-day moving average price is $34.09 and its 200-day moving average price is $30.57. The company has a market capitalization of $2.16 billion, a P/E ratio of -34.60 and a beta of 0.83. The company has a quick ratio of 3.85, a current ratio of 3.91 and a debt-to-equity ratio of 1.20. Xometry, Inc. has a fifty-two week low of $15.88 and a fifty-two week high of $47.46.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. The company had revenue of $162.55 million during 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 business's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. As a group, equities research analysts predict that Xometry, Inc. will post -0.66 EPS for the current fiscal year.

Xometry Company 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.