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

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

Specifically, CEO Jeffrey Graves sold 42,686 shares of 3D Systems stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $3.55, for a total value of $151,535.30. Following the completion of the transaction, the chief executive officer directly owned 1,231,596 shares in the company, valued at approximately $4,372,165.80. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DDD shares. Weiss Ratings downgraded shares of 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Craig Hallum raised 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Tuesday, August 4th. Three 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. According to MarketBeat, 3D Systems has a consensus rating of “Hold” and an average price target of $5.50.

3D Systems Price Performance

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

3D Systems (NYSE:DDD) last issued its earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 business had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.01 million. Equities research analysts predict that 3D Systems Corporation will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On 3D Systems

A number of hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new stake in shares of 3D Systems during the 2nd quarter worth about $56,000. Engineers Gate Manager LP acquired a new position in 3D Systems in the 2nd quarter valued at $394,000. NewEdge Advisors LLC increased its stake in shares of 3D Systems by 87.4% in the second quarter. NewEdge Advisors LLC now owns 11,873 shares of the 3D printing company’s stock worth $36,000 after purchasing an additional 5,538 shares during the period. Squarepoint Ops LLC acquired a new position in shares of 3D Systems during the second quarter worth approximately $774,000. Finally, Headlands Technologies LLC boosted its holdings in 3D Systems by 217.7% in the 2nd quarter. Headlands Technologies LLC now owns 47,786 shares of the 3D printing company’s stock valued at $144,000 after purchasing an additional 32,744 shares during the period. 64.49% of the stock is owned by institutional investors and hedge funds.

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.