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

Xometry, Inc. (NASDAQ:XMTR)’s stock price dropped 10.5% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $59.33 and last traded at $56.9130. Approximately 126,689 shares changed 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 Xometry stock in a transaction that occurred 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 directly owned 64,919 shares in the company, valued at approximately $4,544,330. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective 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. Weiss Ratings restated a “sell (e+)” rating on shares of Xometry in a report on Wednesday, January 21st. Zacks Research lowered shares of Xometry from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Wedbush increased their price objective on shares of Xometry from $48.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald raised their target price on Xometry from $41.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.89.

Xometry Stock Up 2.4%

The company has a market cap of $2.84 billion, a price-to-earnings ratio of -44.34 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.58 and a current ratio of 3.62. The stock’s fifty day moving average is $62.36 and its two-hundred day moving average is $55.04.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Xometry by 26.5% during the 4th quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock worth $46,000 after acquiring an additional 162 shares during the last quarter. Comerica Bank boosted its holdings in Xometry by 17.9% during the third quarter. Comerica Bank now owns 1,140 shares of the company’s stock worth $62,000 after purchasing an additional 173 shares during the last quarter. M&T Bank Corp boosted its holdings in Xometry by 2.1% during the fourth quarter. M&T Bank Corp now owns 8,590 shares of the company’s stock worth $510,000 after purchasing an additional 180 shares during the last quarter. Arizona State Retirement System grew its position in Xometry by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 13,081 shares of the company’s stock worth $713,000 after purchasing an additional 256 shares in the last quarter. Finally, Mariner LLC increased its stake in Xometry by 3.2% in the 3rd quarter. Mariner LLC now owns 9,844 shares of the company’s stock valued at $536,000 after buying an additional 301 shares during the last quarter. Institutional investors own 97.31% of the company’s stock.

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.