Xometry , Inc. (NASDAQ:XMTR) Chief Technology Officer, Leibel Matthew, recently engaged in a series of stock transactions involving the company's Class A Common Stock, according to the latest regulatory filings. On July 1, 2024, Matthew exercised options to acquire a total of 11,502 shares at a price of $3.65 per share, amounting to $41,982 in transaction value. Additionally, on July 3, Matthew sold 360 shares at a weighted average price of $11.7556, with the sales totaling approximately $4,232.
The sales conducted by Matthew were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. The plan was adopted at least 90 days before the transaction date. Part of the shares sold was to cover tax withholding obligations related to the vesting of restricted stock units.
Following the transactions, Leibel Matthew's direct ownership in Xometry's Class A Common Stock adjusted to 86,318 shares. The price range for the shares sold varied from $11.64 to $11.905, inclusive. The company and regulatory bodies have been assured of full disclosure of detailed prices upon request.
Investors and followers of Xometry's stock activity can find these details in the company's most recent Form 4 filing with the Securities and Exchange Commission. The transactions provide insight into the trading activities of Xometry's executives and could be of interest to current and potential shareholders.
In other recent news, Xometry Inc (NASDAQ:XMTR). has been the focus of several key developments. In the first quarter of 2024, the company reported revenues of $123 million, marking a 16% increase year-over-year, largely driven by a 24% surge in its Marketplace business. Despite these gains, Xometry experienced a 10% quarter-over-quarter decrease in Marketplace Revenue per Active Buyer.
Cantor Fitzgerald initiated coverage on Xometry with an Underweight rating, setting a price target of $13.00, citing concerns about the company's business model's potential for growth. Meanwhile, Citi revised its price target for Xometry to $24, maintaining a Buy rating on the company's shares, reflecting broader uncertainty in the manufacturing sector's economic outlook.
In other company news, 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 recent developments highlight the evolving landscape for Xometry in the competitive marketplace.
InvestingPro Insights
Amidst the recent insider trading activities of Xometry, Inc. (NASDAQ:XMTR) CTO, Leibel Matthew, it's crucial for investors to consider the broader financial health and market performance of the company. According to real-time data from InvestingPro, Xometry's market capitalization stands at $574.86 million, reflecting the company's current valuation within the market. Despite a challenging period, Xometry has managed to achieve a revenue growth of 19.42% over the last twelve months as of Q1 2024, indicating a solid increase in sales.
The company's stock has been trading near its 52-week low, with a price that is 30.28% of the 52-week high, potentially presenting a value opportunity for investors. However, with a negative P/E ratio of -8.9, it is clear that the market currently does not expect earnings to cover the share price. This is echoed by an InvestingPro Tip revealing that analysts do not anticipate the company will be profitable this year. Additionally, the stock has experienced a significant price drop of 24.14% over the last month, which may raise concerns but also might interest value-seeking investors.
For investors looking for more comprehensive analysis, there are additional InvestingPro Tips available that could provide deeper insights into Xometry's financial position and future prospects. For instance, while Xometry operates with a moderate level of debt, its liquid assets exceed its short-term obligations, suggesting a degree of financial stability. Moreover, for those interested in a more detailed analysis, there are an additional 10 InvestingPro Tips available at InvestingPro. Use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, offering an opportunity to access exclusive insights that could help in making informed investment decisions.
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