Xometry (NASDAQ:XMTR) Shares Down 10.5% After Insider Selling

Xometry, Inc. (NASDAQ:XMTR)’s stock price fell 10.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $59.33 and last traded at $56.9130. 126,689 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 789,966 shares. The stock had previously closed at $63.61.

Specifically, insider Subir Dutt sold 2,500 shares of Xometry stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the transaction, the insider owned 64,919 shares of the company’s stock, valued at $4,544,330. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several analysts recently commented on XMTR shares. Wedbush lifted their target price on shares of Xometry from $48.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Citigroup reissued an “outperform” rating on shares of Xometry in a report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price objective on Xometry from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Citizens Jmp raised their price objective on Xometry from $65.00 to $75.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Finally, JMP Securities set a $75.00 price objective on Xometry in a research note on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.89.

Xometry Stock Down 12.2%

The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.58 and a current ratio of 3.62. The stock has a 50-day moving average of $62.53 and a two-hundred day moving average of $54.89. The company has a market cap of $2.86 billion, a P/E ratio of -44.52 and a beta of 0.86.

Hedge Funds Weigh In On Xometry

A number of institutional investors have recently bought and sold shares of XMTR. Quantbot Technologies LP purchased a new position in shares of Xometry during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. raised its holdings in Xometry by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 1,015 shares of the company’s stock worth $34,000 after buying an additional 412 shares during the last quarter. Westend Capital Management LLC purchased a new stake in shares of Xometry during the 3rd quarter valued at about $41,000. GAMMA Investing LLC grew its position in Xometry by 26.5% in the fourth quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after acquiring an additional 162 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Xometry during the third quarter valued at approximately $47,000. 97.31% of the stock is owned by institutional investors.

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.