KLP Kapitalforvaltning AS Takes Position in Xometry, Inc. (NASDAQ:XMTR)

KLP Kapitalforvaltning AS acquired a new stake in Xometry, Inc. (NASDAQ:XMTR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,600 shares of the company’s stock, valued at approximately $410,000.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in shares of Xometry in the 4th quarter valued at $27,000. Arizona State Retirement System raised its holdings in Xometry by 7.9% in the 4th quarter. Arizona State Retirement System now owns 12,180 shares of the company’s stock valued at $520,000 after buying an additional 891 shares during the period. SBI Securities Co. Ltd. acquired a new position in Xometry in the fourth quarter valued at about $73,000. Allspring Global Investments Holdings LLC boosted its stake in Xometry by 1.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 219,075 shares of the company’s stock worth $9,120,000 after buying an additional 2,375 shares during the period. Finally, State Street Corp increased its position in shares of Xometry by 0.3% during the third quarter. State Street Corp now owns 887,139 shares of the company’s stock valued at $16,297,000 after acquiring an additional 3,027 shares during the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Xometry Trading Down 7.8 %

Shares of XMTR opened at $19.98 on Friday. Xometry, Inc. has a 12 month low of $11.08 and a 12 month high of $45.33. The stock’s 50-day moving average is $29.56 and its two-hundred day moving average is $29.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.59 and a quick ratio of 4.55. The stock has a market cap of $1.01 billion, a PE ratio of -19.03 and a beta of 0.69.

Analyst Ratings Changes

Several brokerages have recently commented on XMTR. Cantor Fitzgerald upped their price objective on shares of Xometry from $12.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, February 26th. Royal Bank of Canada upped their price target on Xometry from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised Xometry from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $45.00 in a research note on Wednesday, December 18th. Citigroup decreased their target price on Xometry from $46.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, UBS Group raised their target price on Xometry from $22.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Xometry has an average rating of “Moderate Buy” and a consensus target price of $36.11.

Insider Activity

In related news, CEO Randolph Altschuler sold 27,566 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $26.60, for a total transaction of $733,255.60. Following the completion of the transaction, the chief executive officer now owns 256,570 shares in the company, valued at $6,824,762. The trade was a 9.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Peter Goguen sold 3,000 shares of the company’s 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 transaction, the chief operating officer now owns 161,993 shares of the company’s stock, valued at $5,762,091.01. This represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 79,256 shares of company stock worth $2,075,069. 16.79% of the stock is currently owned by insiders.

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.