In a recent transaction, Peter Goguen, the Chief Operating Officer of Xometry , Inc. (NASDAQ:XMTR), sold shares of the company's stock, signaling a notable change in his holdings. The transaction, which took place on June 20, 2024, involved the sale of 986 shares of Class A Common Stock at an average price of $12.5455 per share, resulting in a total value of $12,369.
The shares were sold in a range of prices from $12.40 to $12.71, as part of an automated process in accordance with a pre-established trading plan. This plan, governed by Rule 10b5-1, allows insiders to sell shares at predetermined times to avoid accusations of trading on nonpublic information. Goguen's transaction was also partly motivated by the need to cover tax withholding obligations related to the vesting of restricted stock units.
Following the sale, Goguen's remaining stake in the company stands at 195,285 shares of Class A Common Stock. The transaction was carried out directly, and the details were disclosed in accordance with regulatory requirements.
Investors often monitor insider transactions as they can provide insights into how company executives perceive the value of their firm's stock. While such sales are not uncommon and can be motivated by a variety of personal financial needs, they are still closely watched as they represent the actions of individuals with deep knowledge of the company.
Xometry, headquartered in North Bethesda, Maryland, specializes in business services and operates within the industrial sector. The company has been a player in the market, providing a range of services that cater to the needs of its diverse clientele.
For further details, shareholders and interested parties can request information from Xometry regarding the specific prices at which the shares were sold within the reported range.
In other recent news, Xometry Inc (NASDAQ:XMTR). reported strong Q1 2024 results, with revenues of $123 million, marking a 16% year-over-year increase, primarily driven by a 24% surge in its Marketplace business. Despite this growth, the company observed a 10% quarter-over-quarter decrease in Marketplace Revenue per Active Buyer. Cantor Fitzgerald initiated coverage on Xometry, rating the stock Underweight with a price target of $13.00, expressing concerns about the sustainability of the firm's business model. On the other hand, Citi maintained a Buy rating on Xometry's shares but revised its price target down to $24, reflecting broader uncertainty in the manufacturing sector's economic outlook. In other company developments, Xometry 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 are among the recent developments for Xometry.
InvestingPro Insights
As Xometry, Inc. (NASDAQ:XMTR) continues to navigate the market, recent data from InvestingPro provides a deeper insight into the company's financial performance and stock behavior. According to the latest metrics, Xometry has a market capitalization of $614.39 million and has experienced a revenue growth of 19.42% in the last twelve months as of Q1 2024, indicating a robust increase in sales. Despite this growth, the company's P/E ratio stands at -9.57, reflecting that it is not currently profitable.
InvestingPro Tips highlight that the company's stock is trading near its 52-week low and the RSI suggests it is in oversold territory. This could suggest a potential opportunity for investors who believe in the company's fundamentals and are looking for an entry point into the stock. Additionally, it's noteworthy that while the company has been unprofitable over the last twelve months, it does have liquid assets exceeding its short-term obligations, signaling a degree of financial stability in terms of liquidity.
For investors seeking a comprehensive analysis with additional insights, there are currently 11 more InvestingPro Tips available for Xometry, which can be accessed through the platform. For those interested in taking a deeper dive into these tips, using the coupon code PRONEWS24 provides an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which could be valuable for making informed investment decisions.
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