Sumitomo Mitsui Trust Holdings Inc. Sells 391,888 Shares of Markforged Holding Co. (NYSE:MKFG)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Markforged Holding Co. (NYSE:MKFG) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,822,249 shares of the company’s stock after selling 391,888 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Markforged were worth $6,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Markforged during the third quarter valued at approximately $27,000. Empirical Asset Management LLC increased its position in shares of Markforged by 190.5% during the fourth quarter. Empirical Asset Management LLC now owns 30,500 shares of the company’s stock valued at $25,000 after purchasing an additional 20,000 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Markforged during the third quarter valued at approximately $40,000. Citigroup Inc. bought a new stake in shares of Markforged during the third quarter valued at approximately $59,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Markforged during the third quarter valued at approximately $931,000. 87.30% of the stock is owned by institutional investors.

Markforged Price Performance

Shares of NYSE:MKFG opened at $0.68 on Wednesday. The business’s fifty day moving average price is $0.71 and its two-hundred day moving average price is $0.76. Markforged Holding Co. has a fifty-two week low of $0.50 and a fifty-two week high of $2.30. The stock has a market capitalization of $136.46 million, a price-to-earnings ratio of -1.29 and a beta of 1.51.

Markforged (NYSE:MKFG) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Markforged had a negative return on equity of 25.97% and a negative net margin of 110.43%. The firm had revenue of $24.17 million for the quarter, compared to analysts’ expectations of $20.95 million. During the same period in the prior year, the business posted ($0.06) earnings per share. Research analysts expect that Markforged Holding Co. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1.45 price target on shares of Markforged in a research report on Wednesday, February 28th.

About Markforged

Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. It offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. The company serves customers in aerospace, military and defense, food and beverage, industrial automation, space exploration, healthcare, and automotive industries.