Fred Alger Management LLC has reduced its holdings in Xometry, Inc. (NASDAQ: XMTR) by 16.7% during the third quarter of 2023. According to the firm’s latest 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 715,450 shares of the company after selling 143,154 shares during this period. At this reduced stake, Fred Alger Management holds approximately 1.41% of Xometry, valued at $38.97 million.
Other institutional investors have also made adjustments to their positions in Xometry. For instance, Quantbot Technologies LP acquired a new stake worth about $30,000, while Westend Capital Management LLC established a position valued at around $41,000. Additionally, Global Retirement Partners LLC added a stake worth approximately $47,000 during the same quarter. Advisors Asset Management Inc. significantly increased its holdings by 68.3%, now owning 1,015 shares valued at $34,000 after purchasing an additional 412 shares. Comerica Bank also raised its stake by 17.9%, owning 1,140 shares worth $62,000 after acquiring 173 shares.
The ownership landscape is predominantly controlled by institutional investors, who now hold 97.31% of Xometry’s stock.
Insider Transactions and Stock Performance
Recent insider activities have also drawn attention. On February 27, 2024, Katharine Weymouth, a director at Xometry, purchased 1,215 shares at an average price of $41.15 per share, totaling $49,997.25. This acquisition increased her direct ownership to 3,615 shares, valued at $148,757.25, reflecting a rise of 50.63% in her holdings.
Conversely, insider Subir Dutt sold 2,410 shares on February 26, 2024, at an average price of $43.47, resulting in a total of $104,762.70. After this sale, Dutt’s ownership decreased by 2.65%, leaving him with 88,633 shares valued at approximately $3.85 million. In total, insiders have sold 127,852 shares worth $6,993,940 over the past ninety days, and insiders hold 9.66% of the company’s stock.
Analytical Insights on Xometry
As of Monday, Xometry’s stock opened at $36.92, with a market capitalization of $1.91 billion. The company has a price-to-earnings (P/E) ratio of -30.26 and a beta of 0.90. Xometry has maintained a quick ratio of 3.72 and a current ratio of 3.76, with a debt-to-equity ratio of 1.18. The stock’s 50-day moving average stands at $56.38, while the 200-day moving average is $55.75. Xometry has experienced a 52-week low of $18.59 and a high of $73.87.
In its most recent earnings report released on February 24, 2024, Xometry reported earnings per share (EPS) of $0.16, surpassing the consensus estimate of $0.12 by $0.04. The company recorded revenue of $192.4 million, exceeding the expected $183.37 million. This represents a remarkable 29.5% increase in revenue compared to the same quarter the previous year. Analysts anticipate that Xometry will post an EPS of -0.66 for the current year.
Xometry, Inc. operates a technology-driven marketplace that connects businesses with on-demand manufacturing capacity across various processes. Its proprietary Instant Quoting Engine and Xometry Platform streamline sourcing for services such as CNC machining, 3D printing, and injection molding. Founded in 2013 and headquartered in Rockville, Maryland, Xometry has expanded its reach to serve customers across North America, Europe, and beyond.
