3D Systems (NYSE:DDD) Stock Price Down 5.8% After Insider Selling

Key Points

• 3D Systems shares fell 5.8% to $3.42 after CEO Jeffrey Graves sold 42,686 shares for approximately $151,535, reducing his direct ownership by 3.35%.
• Analyst views remain mixed: the consensus rating is “Hold”, with an average price target of $5.50; ratings range from “Buy” to “Sell.”
• The company modestly beat quarterly expectations, reporting a $0.04 loss per share versus the estimated $0.06 loss and revenue of $94.6 million, while institutional investors own 64.49% of outstanding shares.

3D Systems Corporation (NYSE:DDD - Get Free Report)'s stock price was down 5.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $3.39 and last traded at $3.42. 982,358 shares traded hands during trading, a decline of 73% from the average daily volume of 3,678,857 shares. The stock had previously closed at $3.63.

Specifically, CEO Jeffrey Graves sold 42,686 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $3.55, for a total transaction of $151,535.30. Following the sale, the chief executive officer directly owned 1,231,596 shares in the company, valued at $4,372,165.80. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DDD shares. Weiss Ratings cut 3D Systems from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Craig Hallum raised 3D Systems from a "hold" rating to a "buy" rating and set a $6.00 target price for the company in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.50.

3D Systems Stock Down 6.3%

The firm's fifty day simple moving average is $3.19 and its 200-day simple moving average is $2.82. The company has a market cap of $564.91 million, a PE ratio of -8.29 and a beta of 2.75. The company has a quick ratio of 2.27, a current ratio of 3.40 and a debt-to-equity ratio of 0.32.

3D Systems (NYSE:DDD - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. 3D Systems had a negative return on equity of 19.56% and a negative net margin of 14.15%.The company had revenue of $94.60 million during the quarter, compared to analysts' expectations of $94.01 million. As a group, equities research analysts expect that 3D Systems Corporation will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 3D Systems

Several hedge funds have recently made changes to their positions in DDD. Bank of New York Mellon Corp acquired a new stake in 3D Systems in the 2nd quarter worth about $1,221,000. Dimensional Fund Advisors LP lifted its holdings in shares of 3D Systems by 20.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company's stock valued at $3,537,000 after acquiring an additional 320,427 shares in the last quarter. Penn Capital Management Company LLC lifted its stake in shares of 3D Systems by 992.1% during the fourth quarter. Penn Capital Management Company LLC now owns 1,292,379 shares of the 3D printing company's stock worth $2,288,000 after purchasing an additional 1,174,038 shares in the last quarter. Renaissance Technologies LLC grew its position in 3D Systems by 16.2% in the first quarter. Renaissance Technologies LLC now owns 1,159,550 shares of the 3D printing company's stock valued at $2,180,000 after acquiring an additional 161,643 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in 3D Systems during the 2nd quarter worth $774,000. Institutional investors and hedge funds own 64.49% of the company's stock.

3D Systems Company Profile

3D Systems Corporation NYSE: DDD develops and provides additive manufacturing, commonly known as 3D printing, technologies for industrial and healthcare applications. The company offers 3D printers, printing materials, software, design and production services, and related support to help customers move from product development and prototyping to production.

Its solutions serve industries including aerospace and defense, automotive, healthcare, dental, consumer products, and general manufacturing.

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