413,098 Shares in Xometry, Inc. (NASDAQ:XMTR) Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC acquired a new stake in Xometry, Inc. (NASDAQ:XMTR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 413,098 shares of the company's stock, valued at approximately $17,623,000. Lord Abbett & CO. LLC owned 0.83% of Xometry at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of Xometry in the 4th quarter worth $27,000. Canada Pension Plan Investment Board bought a new position in Xometry during the 4th quarter valued at $38,000. SBI Securities Co. Ltd. bought a new position in Xometry during the 4th quarter valued at $73,000. Summit Investment Advisors Inc. lifted its stake in Xometry by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,447 shares of the company's stock valued at $190,000 after acquiring an additional 333 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Xometry during the 4th quarter valued at $219,000. 97.31% of the stock is owned by institutional investors and hedge funds.

Xometry Trading Down 3.1 %

Shares of XMTR traded down $0.84 during trading hours on Tuesday, reaching $25.94. 817,894 shares of the company traded hands, compared to its average volume of 610,486. The company's fifty day moving average price is $24.51 and its two-hundred day moving average price is $29.73. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -24.70 and a beta of 0.72. The company has a quick ratio of 4.55, a current ratio of 4.59 and a debt-to-equity ratio of 0.90. Xometry, Inc. has a 12 month low of $11.08 and a 12 month high of $45.33.

Analysts Set New Price Targets

Several equities analysts have weighed in on XMTR shares. Cantor Fitzgerald raised their price objective on Xometry from $12.00 to $20.00 and gave the company an "underweight" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Xometry from $45.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. UBS Group lifted their target price on Xometry from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Citigroup lowered their target price on Xometry from $46.00 to $39.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities reiterated a "market outperform" rating and set a $42.00 target price on shares of Xometry in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.56.

Insider Buying and Selling

In related news, Director Emily Rollins sold 2,000 shares of Xometry stock in a transaction on Monday, April 7th. The stock was sold at an average price of $20.66, for a total transaction of $41,320.00. Following the transaction, the director now directly owns 16,146 shares in the company, valued at approximately $333,576.36. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randolph Altschuler sold 27,566 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $26.60, for a total value of $733,255.60. Following the completion of the transaction, the chief executive officer now owns 256,570 shares in the company, valued at $6,824,762. The trade was a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,256 shares of company stock valued at $2,012,889 over the last quarter. Corporate insiders own 16.79% of the company's stock.

Xometry 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.