Xometry (NASDAQ:XMTR) Stock Price Down 10.5% on Insider Selling

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

Specifically, insider Subir Dutt sold 2,500 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the sale, the insider owned 64,919 shares in the company, valued at $4,544,330. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on XMTR shares. Citigroup reaffirmed an “outperform” rating on shares of Xometry in a report on Wednesday, November 5th. The Goldman Sachs Group boosted their target price on shares of Xometry from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Xometry from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Zacks Research cut shares of Xometry from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Xometry in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.89.

Xometry Price Performance

The business’s fifty day moving average is $62.44 and its 200-day moving average is $54.89. The firm has a market cap of $2.77 billion, a PE ratio of -43.30 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.62 and a quick ratio of 3.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of XMTR. Sylebra Capital LLC lifted its position in shares of Xometry by 9.6% in the second quarter. Sylebra Capital LLC now owns 2,062,157 shares of the company’s stock valued at $69,680,000 after acquiring an additional 180,533 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Xometry by 54.2% in the third quarter. Ameriprise Financial Inc. now owns 1,964,909 shares of the company’s stock worth $107,029,000 after purchasing an additional 690,558 shares in the last quarter. First Trust Advisors LP grew its holdings in Xometry by 12.8% during the 3rd quarter. First Trust Advisors LP now owns 1,443,283 shares of the company’s stock worth $78,616,000 after acquiring an additional 164,278 shares in the last quarter. Baillie Gifford & Co. boosted its position in Xometry by 1.6% during the 4th quarter. Baillie Gifford & Co. now owns 1,306,151 shares of the company’s stock valued at $77,677,000 after acquiring an additional 20,901 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Xometry during the fourth quarter valued at about $76,393,000. 97.31% of the stock is currently owned by institutional investors.

About Xometry

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.