PVG Asset Management Corp Invests $703,000 in Xometry, Inc. $XMTR

Key Points

• PVG Asset Management initiated a $703,000 position in Xometry by purchasing 17,220 shares during the first quarter. Institutional investors collectively own 97.31% of the company.
• Analyst sentiment is mixed but improving: Xometry has a consensus rating of “Hold” and an average price target of $84.25, while recent targets range from $62 to $126.
• Xometry reported better-than-expected quarterly results, with EPS of $0.12 versus $0.07 expected and revenue of $205.14 million, up 35.9% year over year; however, the company remains unprofitable.

PVG Asset Management Corp bought a new stake in Xometry, Inc. (NASDAQ:XMTR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,220 shares of the company's stock, valued at approximately $703,000.

Several other hedge funds also recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Xometry by 23.7% during the first quarter. Bank of America Corp DE now owns 235,414 shares of the company's stock worth $9,614,000 after buying an additional 45,158 shares in the last quarter. Sylebra Capital LLC raised its position in Xometry by 31.3% in the 1st quarter. Sylebra Capital LLC now owns 535,624 shares of the company's stock valued at $21,875,000 after buying an additional 127,637 shares during the last quarter. California State Teachers Retirement System lifted its stake in Xometry by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 51,770 shares of the company's stock valued at $2,114,000 after acquiring an additional 9,283 shares in the last quarter. Empowered Funds LLC bought a new position in Xometry during the 1st quarter valued at $1,150,000. Finally, Quantinno Capital Management LP boosted its holdings in Xometry by 759.5% during the 1st quarter. Quantinno Capital Management LP now owns 32,694 shares of the company's stock worth $1,335,000 after acquiring an additional 28,890 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company's stock.

Insider Buying and Selling at Xometry

In other Xometry news, insider Subir Dutt sold 1,073 shares of Xometry stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.39, for a total value of $100,207.47. Following the sale, the insider owned 93,716 shares of the company's stock, valued at approximately $8,752,137.24. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Randolph Altschuler sold 5,722 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $93.30, for a total transaction of $533,862.60. Following the completion of the transaction, the director owned 428,750 shares in the company, valued at approximately $40,002,375. The trade was a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 80,496 shares of company stock valued at $7,124,340 in the last three months. 9.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on XMTR. The Goldman Sachs Group reiterated a "neutral" rating and issued a $78.00 target price on shares of Xometry in a research note on Friday, May 8th. Citigroup boosted their price target on shares of Xometry from $65.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Wedbush began coverage on shares of Xometry in a research report on Thursday, July 16th. They issued an "outperform" rating and a $126.00 price objective for the company. Citizens Jmp increased their price objective on shares of Xometry from $75.00 to $100.00 and gave the company a "market outperform" rating in a research note on Friday, May 8th. Finally, Cantor Fitzgerald raised shares of Xometry from a "neutral" rating to an "overweight" rating and set a $62.00 target price on the stock in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $84.25.

Xometry Stock Performance

Shares of Xometry stock opened at $85.72 on Monday. Xometry, Inc. has a 1 year low of $30.63 and a 1 year high of $106.08. The firm has a market cap of $4.44 billion, a PE ratio of -84.04 and a beta of 1.30. The stock has a fifty day moving average price of $90.86 and a 200-day moving average price of $67.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.76.

Xometry (NASDAQ:XMTR - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.05. The company had revenue of $205.14 million for the quarter, compared to analysts' expectations of $188.46 million. Xometry had a negative return on equity of 4.37% and a negative net margin of 7.01%.The business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Equities research analysts anticipate that Xometry, Inc. will post -0.06 EPS for the current year.

Xometry Company Profile

Xometry, Inc NASDAQ: XMTR operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across a wide array of processes. Through its proprietary Instant Quoting Engine and Xometry Platform, the company streamlines sourcing for CNC machining, 3D printing, sheet metal fabrication, injection molding, urethane casting and other custom manufacturing services. By aggregating a network of thousands of vetted suppliers, Xometry offers rapid lead times, transparent pricing and real-time order tracking to customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.

Since its founding in 2013 and headquarters in Rockville, Maryland, Xometry has expanded its geographic reach to serve customers in North America, Europe and beyond.

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