Xometry (NASDAQ:XMTR) Price Target Cut to $39.00 by Analysts at Citigroup

Xometry (NASDAQ:XMTR) had its price objective decreased by Citigroup from $46.00 to $39.00 in a report issued on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group lifted their target price on Xometry from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Xometry from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $42.00 target price on shares of Xometry in a report on Monday, February 10th. JPMorgan Chase & Co. upgraded Xometry from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $25.00 to $45.00 in a report on Wednesday, December 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $48.00 target price on shares of Xometry in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Xometry presently has an average rating of “Moderate Buy” and an average target price of $36.11.

Xometry Trading Up 1.2 %

XMTR opened at $27.35 on Thursday. Xometry has a 52 week low of $11.08 and a 52 week high of $45.33. The business has a fifty day simple moving average of $36.42 and a 200-day simple moving average of $28.00. The firm has a market cap of $1.36 billion, a P/E ratio of -26.05 and a beta of 0.65. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90.

Insiders Place Their Bets

In other news, COO Peter Goguen sold 3,000 shares of Xometry stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $35.57, for a total transaction of $106,710.00. Following the sale, the chief operating officer now owns 161,993 shares in the company, valued at approximately $5,762,091.01. The trade was a 1.82 % 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. Also, CFO James Miln sold 5,386 shares of Xometry stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $42.33, for a total value of $227,989.38. Following the sale, the chief financial officer now owns 102,329 shares in the company, valued at $4,331,586.57. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,312 shares of company stock valued at $517,537 in the last ninety days. Insiders own 16.79% of the company’s stock.

Institutional Trading of Xometry

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA increased its position in shares of Xometry by 1.7% during the third quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company’s stock worth $127,088,000 after purchasing an additional 113,264 shares in the last quarter. Vanguard Group Inc. increased its position in Xometry by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 4,293,272 shares of the company’s stock valued at $183,151,000 after acquiring an additional 86,997 shares during the period. FMR LLC increased its position in Xometry by 40.2% in the 3rd quarter. FMR LLC now owns 4,078,462 shares of the company’s stock valued at $74,921,000 after acquiring an additional 1,169,778 shares during the period. Sylebra Capital LLC increased its position in Xometry by 2.1% in the 4th quarter. Sylebra Capital LLC now owns 1,834,750 shares of the company’s stock valued at $78,270,000 after acquiring an additional 37,883 shares during the period. Finally, Fred Alger Management LLC increased its position in Xometry by 20.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock valued at $33,354,000 after acquiring an additional 312,971 shares during the period. Institutional investors and hedge funds own 97.31% of the company’s stock.

About Xometry

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.