Essex Investment Management Co. LLC Makes New Investment in 3D Systems Co. (NYSE:DDD)

Essex Investment Management Co. LLC acquired a new stake in shares of 3D Systems Co. (NYSE:DDD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 126,142 shares of the 3D printing company’s stock, valued at approximately $5,042,000. Essex Investment Management Co. LLC owned approximately 0.10% of 3D Systems at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of DDD. BlackRock Inc. boosted its holdings in 3D Systems by 6.0% in the first quarter. BlackRock Inc. now owns 20,469,273 shares of the 3D printing company’s stock worth $561,677,000 after acquiring an additional 1,152,165 shares in the last quarter. ARK Investment Management LLC increased its holdings in 3D Systems by 85.8% during the 2nd quarter. ARK Investment Management LLC now owns 3,983,451 shares of the 3D printing company’s stock worth $159,219,000 after purchasing an additional 1,839,904 shares during the period. Renaissance Technologies LLC purchased a new stake in 3D Systems during the 1st quarter worth about $85,463,000. Geode Capital Management LLC increased its holdings in 3D Systems by 11.1% during the 1st quarter. Geode Capital Management LLC now owns 2,007,384 shares of the 3D printing company’s stock worth $55,082,000 after purchasing an additional 200,266 shares during the period. Finally, Northern Trust Corp boosted its position in shares of 3D Systems by 17.8% during the 1st quarter. Northern Trust Corp now owns 1,690,220 shares of the 3D printing company’s stock worth $46,380,000 after acquiring an additional 254,858 shares in the last quarter. 66.51% of the stock is currently owned by institutional investors.

Shares of 3D Systems stock traded up $0.25 during trading on Monday, hitting $29.40. The stock had a trading volume of 9,883 shares, compared to its average volume of 7,757,162. The business has a fifty day moving average of $29.16 and a two-hundred day moving average of $28.16. 3D Systems Co. has a fifty-two week low of $4.62 and a fifty-two week high of $56.50. The firm has a market cap of $3.68 billion, a P/E ratio of -59.49, a PEG ratio of 3.40 and a beta of 1.16.

3D Systems (NYSE:DDD) last issued its earnings results on Sunday, August 8th. The 3D printing company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. 3D Systems had a negative return on equity of 0.33% and a negative net margin of 9.27%. The business had revenue of $162.60 million for the quarter, compared to analysts’ expectations of $143.28 million. During the same period in the previous year, the firm posted ($0.13) EPS. The company’s quarterly revenue was up 45.0% on a year-over-year basis. On average, analysts predict that 3D Systems Co. will post 0.18 earnings per share for the current year.

A number of brokerages have recently issued reports on DDD. TheStreet raised 3D Systems from a “d+” rating to a “c” rating in a research note on Thursday, June 24th. Loop Capital lifted their price objective on 3D Systems from $24.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, August 13th. Finally, Craig Hallum cut 3D Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, 3D Systems has a consensus rating of “Hold” and an average price target of $26.86.

In other 3D Systems news, EVP Andrew Martin Johnson sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $25.80, for a total value of $103,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey A. Graves bought 4,260 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The shares were bought at an average price of $29.37 per share, with a total value of $125,116.20. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by corporate insiders.

About 3D Systems

3D Systems Corp. is a holding company, which engages in the provision of comprehensive three-dimensional printing solutions. It offers a comprehensive range of 3D printers, materials, software, haptic design tools, 3D scanners, and virtual surgical simulators. The company was founded by Charles W. Hull in 1986 and is headquartered in Rock Hill, SC.

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Institutional Ownership by Quarter for 3D Systems (NYSE:DDD)

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