Lord Abbett & CO. LLC Buys Shares of 413,098 Xometry, Inc. (NASDAQ:XMTR)

Lord Abbett & CO. LLC acquired a new stake in shares of Xometry, Inc. (NASDAQ:XMTR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 413,098 shares of the company's stock, valued at approximately $17,623,000. Lord Abbett & CO. LLC owned approximately 0.83% of Xometry as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Xometry during the fourth quarter valued at $27,000. Canada Pension Plan Investment Board purchased a new position in shares of Xometry during the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. bought a new position in Xometry during the fourth quarter valued at approximately $73,000. Summit Investment Advisors Inc. boosted its holdings in Xometry by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock worth $190,000 after purchasing an additional 333 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Xometry in the 4th quarter worth approximately $219,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Xometry

In related news, CEO Randolph Altschuler sold 27,566 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $26.60, for a total value of $733,255.60. Following the transaction, the chief executive officer now directly owns 256,570 shares of the company's stock, valued at $6,824,762. This trade represents a 9.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Miln sold 25,852 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.06, for a total value of $621,999.12. Following the completion of the sale, the chief financial officer now directly owns 105,238 shares of the company's stock, valued at approximately $2,532,026.28. This trade represents a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,256 shares of company stock worth $2,012,889. Corporate insiders own 16.79% of the company's stock.

Xometry Trading Up 1.9 %

NASDAQ XMTR traded up $0.48 on Thursday, reaching $26.12. The stock had a trading volume of 515,045 shares, compared to its average volume of 611,220. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -24.88 and a beta of 0.72. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $24.38 and a two-hundred day moving average price of $29.70. Xometry, Inc. has a 12-month low of $11.08 and a 12-month high of $45.33.

Analyst Ratings Changes

XMTR has been the topic of several recent research reports. UBS Group increased their price target on shares of Xometry from $22.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. JMP Securities reissued a "market outperform" rating and issued a $42.00 price objective on shares of Xometry in a research note on Monday, February 10th. Citigroup dropped their price target on shares of Xometry from $46.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reduced their price objective on Xometry from $36.00 to $32.00 and set a "sector perform" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on Xometry from $45.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.56.

Xometry Profile

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.