Xometry, Inc. $XMTR Stock Position Lowered by Fred Alger Management LLC

Key Points

• Fred Alger Management cut its Xometry stake by 18.8% in the fourth quarter, leaving it with 580,734 shares worth about $34.5 million.
• Institutional ownership remains very high, with other funds such as First Trust Advisors and Stephens Investment Management increasing their positions; about 97.31% of Xometry is held by institutions and hedge funds.
• Xometry’s latest earnings beat expectations, reporting $0.12 EPS on revenue of $205.14 million, while analysts currently maintain a consensus rating of Hold with an average price target of $76.00.

Fred Alger Management LLC lessened its position in Xometry, Inc. (NASDAQ:XMTR - Free Report) by 18.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 580,734 shares of the company's stock after selling 134,716 shares during the period. Fred Alger Management LLC owned approximately 1.13% of Xometry worth $34,536,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of Xometry by 12.8% during the third quarter. First Trust Advisors LP now owns 1,443,283 shares of the company's stock worth $78,616,000 after purchasing an additional 164,278 shares during the period. Stephens Investment Management Group LLC raised its position in shares of Xometry by 115.2% during the fourth quarter. Stephens Investment Management Group LLC now owns 842,987 shares of the company's stock worth $50,132,000 after purchasing an additional 451,259 shares during the period. Blair William & Co. IL raised its position in shares of Xometry by 22.1% during the third quarter. Blair William & Co. IL now owns 324,565 shares of the company's stock worth $17,679,000 after purchasing an additional 58,707 shares during the period. Comerica Bank raised its position in shares of Xometry by 2,427.4% during the fourth quarter. Comerica Bank now owns 28,812 shares of the company's stock worth $1,713,000 after purchasing an additional 27,672 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Xometry during the third quarter worth $2,623,000. 97.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on XMTR shares. Zacks Research upgraded Xometry from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. William Blair reiterated an "outperform" rating on shares of Xometry in a report on Tuesday, February 24th. Royal Bank Of Canada lifted their price target on Xometry from $55.00 to $85.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. UBS Group lifted their price target on Xometry from $54.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. Finally, Wedbush lowered their price target on Xometry from $70.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Six investment 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.com, Xometry has a consensus rating of "Hold" and an average price target of $76.00.

Insider Activity at Xometry

In other news, insider Subir Dutt sold 2,500 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the sale, the insider owned 94,789 shares in the company, valued at approximately $9,004,955. This represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Randolph Altschuler sold 50,000 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $87.85, for a total value of $4,392,500.00. Following the sale, the chief executive officer owned 455,248 shares of the company's stock, valued at approximately $39,993,536.80. This trade represents a 9.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,943 shares of company stock worth $5,989,621 in the last 90 days. Insiders own 9.10% of the company's stock.

Xometry Stock Performance

Shares of NASDAQ XMTR opened at $85.98 on Wednesday. The business's 50-day moving average price is $69.89 and its two-hundred day moving average price is $60.20. 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, Inc. has a one year low of $29.60 and a one year high of $99.86. The company has a market capitalization of $4.46 billion, a P/E ratio of -84.29 and a beta of 1.27.

Xometry (NASDAQ:XMTR - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. The firm had revenue of $205.14 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Analysts anticipate that Xometry, Inc. will post -0.11 earnings per share for the current fiscal 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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