Xometry , Inc. (NASDAQ:XMTR) Chief Operating Officer Peter Goguen has recently sold shares of the company's stock, according to the latest filing with the Securities and Exchange Commission. The transaction, which took place on July 3, 2024, involved the sale of 940 shares of Class A Common Stock at a weighted average price of $11.7573 per share, totaling approximately $11,051.
The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units. Additionally, the shares were sold pursuant to a Rule 10b5-1 trading plan, which had been adopted by Goguen at least 90 days before the transaction, indicating that the sale was planned and not based on the current market conditions or insider knowledge.
Investors might be interested to know that the shares were sold in multiple transactions with prices ranging from $11.64 to $11.91. After the sale, Goguen still owns a significant number of shares, with 194,345 shares of Xometry's Class A Common Stock remaining in his possession.
As is common with transactions of this nature, Goguen has agreed to provide full information regarding the number of shares sold at each separate price within the range upon request by Xometry, its security holders, or the SEC staff.
Xometry, based in Maryland, operates within the business services sector and is known for its on-demand manufacturing marketplace. This recent transaction provides transparency into the trading activities of the company's executives, which is valuable information for current and potential investors.
In other recent news, Xometry Inc (NASDAQ:XMTR). reported robust first-quarter results for 2024, with revenues of $123 million, marking a 16% year-over-year increase mainly due to a 24% surge in its Marketplace business. However, the company saw a 10% quarter-over-quarter decrease in Marketplace Revenue per Active Buyer. Analyst firm Cantor Fitzgerald initiated coverage on Xometry with an Underweight rating, expressing concerns about the company's business model's limitations in supporting serial production of end-use parts. In contrast, Citi maintained a Buy rating on the company's shares, albeit reducing its price target to $24 from $31, following Xometry's Q1 results and reflecting broader uncertainty in the manufacturing sector's economic outlook. Furthermore, Xometry recently appointed Subir Dutt as its new Chief Sales Officer, a move expected to enhance the company's penetration across top accounts and facilitate expansion across various industry verticals. These developments provide recent insights into Xometry's financial performance and strategic moves.
InvestingPro Insights
Recent market data for Xometry, Inc. (NASDAQ:XMTR) reflects a challenging period for the company's stock performance. According to InvestingPro, the company's market capitalization stands at a modest $574.86 million, with a negative Price-to-Earnings (P/E) ratio of -8.66, suggesting that investors are concerned about the company's profitability. In the last twelve months leading up to Q1 2024, Xometry has experienced a revenue growth of 19.42%, showing a promising expansion in sales despite the stock's poor performance in the market.
InvestingPro Tips indicate that analysts have revised their earnings expectations downwards for the upcoming period, and they do not anticipate Xometry to be profitable this year. Additionally, the stock has been trading near its 52-week low, reflecting a significant downturn over the last few months. On a more positive note, Xometry's liquid assets exceed its short-term obligations, which may provide some financial stability in the near term.
For investors considering the long-term value of Xometry, it is worth noting that the company operates with a moderate level of debt and does not pay a dividend to shareholders. These factors could influence investment decisions, especially for those looking for income-generating stocks or concerned about financial leverage.
For a deeper dive into Xometry's financial health and stock performance, additional InvestingPro Tips are available. There are currently 6 more tips that could provide further insights into the company's outlook. Interested readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro, which could be a valuable tool for those looking to make informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.