Sumitomo Mitsui Trust Group Inc. Sells 54,853 Shares of 908 Devices Inc. (NASDAQ:MASS)

Sumitomo Mitsui Trust Group Inc. cut its stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of 908 Devices by 190.9% in the fourth quarter. Bank of America Corp DE now owns 94,753 shares of the company's stock valued at $208,000 after buying an additional 62,179 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 908 Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock worth $1,279,000 after purchasing an additional 13,512 shares during the period. Hsbc Holdings PLC grew its holdings in shares of 908 Devices by 32.2% during the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock worth $46,000 after purchasing an additional 5,112 shares during the period. Northern Trust Corp grew its holdings in shares of 908 Devices by 7.5% during the 4th quarter. Northern Trust Corp now owns 200,764 shares of the company's stock worth $442,000 after purchasing an additional 14,087 shares during the period. Finally, Jane Street Group LLC lifted its stake in 908 Devices by 118.9% during the 4th quarter. Jane Street Group LLC now owns 113,890 shares of the company's stock worth $251,000 after acquiring an additional 61,851 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, 908 Devices presently has a consensus rating of "Moderate Buy" and an average target price of $5.33.

908 Devices Trading Up 0.7%

Shares of 908 Devices stock traded up $0.05 during trading hours on Friday, reaching $6.66. The stock had a trading volume of 247,177 shares, compared to its average volume of 1,056,525. 908 Devices Inc. has a 1 year low of $1.81 and a 1 year high of $8.06. The firm has a market capitalization of $238.65 million, a price-to-earnings ratio of -12.32 and a beta of 0.38. The firm has a 50 day simple moving average of $6.08 and a two-hundred day simple moving average of $4.18.

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

Insider Buying and Selling

In related news, Director Mark Spoto purchased 10,000 shares of 908 Devices stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the transaction, the director directly owned 62,971 shares of the company's stock, valued at approximately $270,145.59. This trade represents a 18.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $120,775.82. Following the completion of the sale, the insider owned 8,521 shares in the company, valued at approximately $63,992.71. This trade represents a 65.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

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.