Bank of New York Mellon Corp Decreases Holdings in Xometry, Inc. (NASDAQ:XMTR)

Bank of New York Mellon Corp reduced its position in Xometry, Inc. (NASDAQ:XMTR) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,605 shares of the company’s stock after selling 448 shares during the period. Bank of New York Mellon Corp’s holdings in Xometry were worth $4,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in shares of Xometry in the fourth quarter valued at $27,000. Truist Financial Corp purchased a new stake in shares of Xometry in the fourth quarter valued at $225,000. AlphaCentric Advisors LLC purchased a new stake in shares of Xometry in the fourth quarter valued at $533,000. Principal Financial Group Inc. purchased a new position in Xometry during the fourth quarter worth about $1,258,000. Finally, Baillie Gifford & Co. purchased a new stake in Xometry in the fourth quarter valued at approximately $30,297,000. 97.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on XMTR shares. Wedbush reiterated an “outperform” rating and issued a $48.00 price target on shares of Xometry in a report on Friday, December 20th. UBS Group lifted their price objective on Xometry from $22.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Citigroup lowered their price target on Xometry from $46.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. raised Xometry from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $25.00 to $45.00 in a research report on Wednesday, December 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $42.00 price objective on shares of Xometry in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Xometry has a consensus rating of “Moderate Buy” and an average price target of $36.11.

Insider Buying and Selling

In other news, CEO Randolph Altschuler sold 27,566 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 256,570 shares of the company’s stock, valued at approximately $6,824,762. This trade represents a 9.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Goguen sold 940 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $42.36, for a total transaction of $39,818.40. Following the completion of the sale, the chief operating officer now directly owns 167,993 shares of the company’s stock, valued at $7,116,183.48. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,965 shares of company stock worth $2,065,315 in the last three months. 16.79% of the stock is owned by insiders.

Xometry Stock Performance

Shares of XMTR stock opened at $25.70 on Tuesday. The company has a market cap of $1.29 billion, a P/E ratio of -24.48 and a beta of 0.69. The business has a 50 day moving average of $32.08 and a two-hundred day moving average of $28.64. Xometry, Inc. has a 52 week low of $11.08 and a 52 week high of $45.33. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90.

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.