State Street Corp Grows Position in Xometry, Inc. (NASDAQ:XMTR)

State Street Corp boosted its position in Xometry, Inc. (NASDAQ:XMTR) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 887,139 shares of the company’s stock after acquiring an additional 3,027 shares during the quarter. State Street Corp owned 1.80% of Xometry worth $16,297,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in shares of Xometry by 1.7% in the 3rd quarter. Primecap Management Co. CA now owns 6,918,252 shares of the company’s stock valued at $127,088,000 after purchasing an additional 113,264 shares in the last quarter. FMR LLC increased its holdings in Xometry by 40.2% in the third quarter. FMR LLC now owns 4,078,462 shares of the company’s stock valued at $74,921,000 after buying an additional 1,169,778 shares during the last quarter. Fred Alger Management LLC raised its stake in Xometry by 20.8% in the third quarter. Fred Alger Management LLC now owns 1,815,696 shares of the company’s stock valued at $33,354,000 after buying an additional 312,971 shares in the last quarter. Sylebra Capital LLC lifted its holdings in Xometry by 134.2% during the 2nd quarter. Sylebra Capital LLC now owns 1,508,716 shares of the company’s stock worth $17,441,000 after buying an additional 864,454 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Xometry by 44.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 493,847 shares of the company’s stock worth $5,712,000 after buying an additional 153,107 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.

Xometry Stock Performance

NASDAQ XMTR opened at $43.70 on Wednesday. The firm has a market cap of $2.17 billion, a P/E ratio of -41.62 and a beta of 0.83. Xometry, Inc. has a 52-week low of $11.08 and a 52-week high of $44.19. The business’s 50-day moving average price is $28.92 and its 200 day moving average price is $20.49. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90.

Analysts Set New Price Targets

A number of research firms have recently commented on XMTR. Citigroup increased their price objective on Xometry from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a report on Monday, December 16th. UBS Group boosted their price objective on shares of Xometry from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $12.00 target price on shares of Xometry in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price target on shares of Xometry from $23.00 to $27.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.89.

Insider Activity at Xometry

In related news, CTO Matthew Leibel sold 16,564 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $30.08, for a total transaction of $498,245.12. Following the completion of the transaction, the chief technology officer now directly owns 77,856 shares of the company’s stock, valued at $2,341,908.48. This represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Emily Rollins sold 3,729 shares of Xometry stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.49, for a total value of $109,968.21. Following the completion of the sale, the director now directly owns 12,457 shares in the company, valued at $367,356.93. This represents a 23.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,219 shares of company stock worth $1,178,519 in the last three months. Insiders own 16.79% of the company’s stock.

Xometry Company Profile

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.