Fred Alger Management LLC has reduced its holdings in shares of Xometry, Inc. by 16.7% during the third quarter of 2023, according to the firm’s recent filing with the Securities and Exchange Commission (SEC). Following the sale of 143,154 shares, the institutional investor now owns 715,450 shares, which represents approximately 1.41% of Xometry, valued at $38,971,000.
Several other institutional investors have also adjusted their positions in Xometry. For instance, Quantbot Technologies LP acquired a new stake valued at about $30,000. Similarly, Westend Capital Management LLC initiated a position worth approximately $41,000, while Global Retirement Partners LLC purchased shares valued at around $47,000. Additionally, Advisors Asset Management Inc. increased its holdings by 68.3% in the second quarter, now owning 1,015 shares valued at $34,000 after acquiring an extra 412 shares. Comerica Bank also raised its stake by 17.9%, bringing its total to 1,140 shares worth $62,000.
Insider trading activity has also been noteworthy. On February 27, 2024, Director Katharine Weymouth purchased 1,215 shares at an average price of $41.15 per share, totaling $49,997.25. This acquisition elevated her ownership to 3,615 shares, valued at approximately $148,757.25, marking a 50.63% increase. Conversely, insider Subir Dutt sold 2,410 shares on February 26, 2024, receiving an average price of $43.47 per share, which amounted to $104,762.70. Post-sale, Dutt owns 88,633 shares valued at about $3,852,876.51, reflecting a 2.65% decrease in ownership. In total, insiders sold 127,852 shares worth $6,993,940 in the last ninety days. Company insiders now hold 9.66% of Xometry’s stock.
Xometry’s Financial Performance and Market Position
As of Monday, Xometry’s stock opened at $36.92, reflecting a market capitalization of $1.91 billion and a P/E ratio of -30.26. The company has a quick ratio of 3.72, a current ratio of 3.76, and a debt-to-equity ratio of 1.18. The 50-day moving average price stands at $56.38, while the 200-day moving average is $55.75. Xometry has recorded a 52-week low of $18.59 and a 52-week high of $73.87.
On February 24, 2024, Xometry reported earnings of $0.16 per share for the quarter, exceeding the consensus estimate of $0.12 by $0.04. The company posted a revenue of $192.40 million, surpassing the expected $183.37 million. This represents a 29.5% increase in revenue compared to the same quarter last year, when it reported earnings of $0.06 per share. Analysts predict that Xometry will post a loss of -0.66 EPS for the current year.
About Xometry
Xometry, Inc., traded under NASDAQ: XMTR, operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across various processes. Utilizing its proprietary Instant Quoting Engine and Xometry Platform, the company facilitates sourcing for services such as CNC machining, 3D printing, sheet metal fabrication, injection molding, and urethane casting. By leveraging a network of thousands of vetted suppliers, Xometry provides rapid lead times, transparent pricing, and real-time order tracking for customers in sectors ranging from automotive and aerospace to medical devices and industrial equipment.
Founded in 2013 and headquartered in Rockville, Maryland, Xometry has significantly expanded its geographic reach, serving clients across North America, Europe, and beyond.
