Sumitomo Mitsui Trust Group Inc. Trims Stock Position in 908 Devices Inc. (NASDAQ:MASS)

Sumitomo Mitsui Trust Group Inc. decreased its stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 412,574 shares of the company's stock after selling 54,853 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.17% of 908 Devices worth $1,848,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MASS. Prescott Group Capital Management L.L.C. acquired a new stake in shares of 908 Devices in the fourth quarter valued at about $330,000. LPL Financial LLC grew its position in shares of 908 Devices by 13.0% in the fourth quarter. LPL Financial LLC now owns 63,287 shares of the company's stock valued at $139,000 after purchasing an additional 7,295 shares during the period. Prudential Financial Inc. acquired a new stake in shares of 908 Devices in the fourth quarter valued at about $34,000. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 13,512 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of 908 Devices in the fourth quarter valued at about $124,000. Institutional investors and hedge funds own 88.06% of the company's stock.

908 Devices Price Performance

MASS traded up $0.40 on Tuesday, reaching $6.81. 491,420 shares of the company's stock were exchanged, compared to its average volume of 1,055,170. The stock has a market cap of $244.21 million, a PE ratio of -12.61 and a beta of 0.38. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $8.06. The stock's fifty day moving average price is $6.13 and its 200-day moving average price is $4.25.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.05. The firm had revenue of $11.78 million for the quarter, compared to analyst estimates 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, research analysts predict that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael S. Turner sold 16,082 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the transaction, the insider directly owned 8,521 shares in the company, valued at approximately $63,992.71. The trade was a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the business's stock in a transaction dated 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 owned 102,930 shares in the company, valued at $728,744.40. The trade was a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,543 shares of company stock worth $233,890. 23.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research report on Friday, June 27th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

About 908 Devices

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.