Xometry, Inc. (NASDAQ:XMTR) reported that its Chief Operating Officer, Peter Goguen, has sold a portion of his company shares. According to the latest filing, the executive sold 3,943 shares of Class A Common Stock at a weighted average price of $17.6072, totaling over $69,425.
This transaction, as detailed in the filing, was carried out to cover tax withholding obligations related to the vesting of restricted stock units. Furthermore, the sales were conducted automatically under a pre-arranged trading plan in accordance with Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks at a specified time.
The shares were sold in multiple transactions with prices ranging from $17.01 to $17.93. After the sale, Goguen still retains a substantial stake in the company, with 197,211 shares of Xometry's Class A Common Stock remaining in his possession.
Investors often monitor insider transactions as they can provide insights into an executive’s view of the company's stock value and financial health. However, it's important to note that these transactions can be influenced by a variety of personal financial needs and strategies that may not necessarily reflect the executive's outlook on the company's future performance.
Xometry, headquartered in North Bethesda, Maryland, operates in the business services sector, providing an online marketplace for industrial parts and manufacturing services. The company has been expanding its reach and capabilities, aiming to transform the manufacturing landscape through digital innovation.
InvestingPro Insights
Xometry's recent insider sale coincides with a period of notable price movement for the company's stock. According to InvestingPro data, Xometry's market capitalization stands at approximately $884.12 million, reflecting the market's current valuation of the company. Despite the company's growth in revenue, which saw a 21.65% increase over the last twelve months as of Q4 2023, the stock has experienced significant price volatility. In fact, the price has dropped by 44.7% over the last month and 46.5% over the last three months, which aligns with an InvestingPro Tip indicating that the stock generally trades with high price volatility.
Moreover, the InvestingPro Tips suggest that analysts are not expecting Xometry to be profitable this year, with a negative P/E ratio of -12.95 and an adjusted P/E ratio of -13.39 for the last twelve months as of Q4 2023. This is further substantiated by the company's operating income margin of -15.51% during the same period. Despite these challenges, Xometry's liquid assets exceed its short-term obligations, which is a positive sign of the company's ability to meet its immediate financial liabilities.
For investors seeking more insights, there are additional InvestingPro Tips available that could further inform their assessment of Xometry's financial health and future prospects. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips and metrics.
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