Wellington Management Group LLP Grows Position in Xometry, Inc. $XMTR

Key Points

• Wellington Management increased its Xometry stake by 26.9% in the second quarter, bringing its holdings to 1.32 million shares worth approximately $127.7 million. Institutional investors collectively own 97.31% of the company.
• Xometry exceeded quarterly expectations, reporting earnings of $0.16 per share versus the $0.15 consensus and revenue of $229.28 million, up 41.1% year over year. Despite growth, the company posted a negative net margin of 3.82%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $108.33 price target, although insiders have sold 45,553 shares worth $4.21 million over the past three months.

Wellington Management Group LLP raised its stake in shares of Xometry, Inc. (NASDAQ:XMTR - Free Report) by 26.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,322,581 shares of the company's stock after purchasing an additional 280,491 shares during the period. Wellington Management Group LLP owned 2.55% of Xometry worth $127,656,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new stake in shares of Xometry during the 2nd quarter valued at $97,000. PVG Asset Management Corp purchased a new stake in Xometry during the first quarter valued at about $703,000. Bank of America Corp DE grew its position in Xometry by 23.7% during the first quarter. Bank of America Corp DE now owns 235,414 shares of the company's stock valued at $9,614,000 after acquiring an additional 45,158 shares during the period. Sylebra Capital LLC increased its stake in Xometry by 31.3% during the first quarter. Sylebra Capital LLC now owns 535,624 shares of the company's stock worth $21,875,000 after acquiring an additional 127,637 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Xometry by 21.8% during the first quarter. California State Teachers Retirement System now owns 51,770 shares of the company's stock worth $2,114,000 after acquiring an additional 9,283 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company's stock.

Xometry Stock Performance

Shares of NASDAQ:XMTR opened at $91.15 on Wednesday. The business's 50-day simple moving average is $91.56 and its 200 day simple moving average is $71.65. The company has a market cap of $4.72 billion, a P/E ratio of -151.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.20 and a current ratio of 3.21. Xometry, Inc. has a one year low of $35.86 and a one year high of $106.08.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $229.28 million during the quarter, compared to the consensus estimate of $215.22 million. Xometry had a negative net margin of 3.82% and a negative return on equity of 2.88%. Xometry's revenue for the quarter was up 41.1% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. On average, sell-side analysts forecast that Xometry, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Katharine Weymouth sold 5,000 shares of Xometry stock in a transaction on Monday, August 31st. The shares were sold at an average price of $95.23, for a total transaction of $476,150.00. Following the sale, the director owned 35,345 shares of the company's stock, valued at $3,365,904.35. The trade was a 12.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fabio Rosati sold 1,900 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $89.72, for a total transaction of $170,468.00. Following the completion of the transaction, the director directly owned 91,667 shares of the company's stock, valued at approximately $8,224,363.24. The trade was a 2.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,553 shares of company stock worth $4,208,168 over the last three months. 9.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

XMTR has been the topic of several research analyst reports. UBS Group lifted their price objective on Xometry from $88.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald increased their target price on shares of Xometry from $85.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Xometry in a report on Wednesday, August 26th. The Goldman Sachs Group lifted their price target on shares of Xometry from $78.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. began coverage on shares of Xometry in a research report on Monday, August 24th. They issued an "overweight" rating and a $120.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Xometry currently has an average rating of "Moderate Buy" and a consensus price target of $108.33.

About Xometry

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.

Want to see what other hedge funds are holding XMTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xometry, Inc. (NASDAQ:XMTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source