Primecap Management Co. CA Trims Holdings in 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 cut its holdings 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 SEC. The institutional investor owned 6,337,962 shares of the company's stock after selling 164,000 shares during the quarter. Primecap Management Co. CA owned 12.60% of Xometry worth $157,942,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in Xometry in the fourth quarter valued at $38,000. GAMMA Investing LLC boosted 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 boosted 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 bought a new stake in Xometry in the fourth quarter valued at $51,000. Finally, CWM LLC boosted its holdings in Xometry by 825.6% in 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 in the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

Xometry Stock Down 3.3%

XMTR stock traded down $1.44 during trading on Friday, reaching $41.64. 945,087 shares of the company traded hands, compared to its average volume of 987,712. Xometry, Inc. has a 12 month low of $14.68 and a 12 month high of $47.46. The business has a 50 day simple moving average of $34.09 and a 200 day simple moving average of $30.61. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -33.85 and a beta of 0.83. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.70 and a current ratio of 3.91.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on XMTR. Cantor Fitzgerald upgraded 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. Royal Bank Of Canada boosted their target price on shares of Xometry from $32.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. UBS Group boosted their target price on shares of Xometry from $35.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Finally, The Goldman Sachs Group lifted their price target on Xometry from $33.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Xometry currently has a consensus rating of "Moderate Buy" and an average target price of $40.44.

Insiders Place Their Bets

In other Xometry news, CEO Randolph Altschuler sold 9,332 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 319,602 shares of the company's stock, valued at approximately $10,351,908.78. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.66% of the company's stock.

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.