Xometry , Inc. (NASDAQ:XMTR) reported that its Chief Technology Officer, Matthew Leibel, has sold a total of $62,738 worth of Class A Common Stock on September 13, 2024. The shares were sold at prices ranging from $18.452 to $18.47 each. Following these transactions, Leibel still holds a significant number of shares in the company.
The recent filing with the Securities and Exchange Commission shows Leibel executed two separate sales of Xometry stock. The first sale involved 88 shares at $18.47 per share, and the second, larger transaction included 3,312 shares at a slightly lower price of $18.452 per share. After these sales, the CTO's direct ownership in Xometry stands at 82,918 shares of Class A Common Stock.
In addition to the sales, the report disclosed that Leibel acquired shares through the exercise of stock options. These options, which were fully vested as indicated in the footnotes of the filing, were exercised at a price of $3.65 per share. The total value for these option exercises amounted to $41,982, bringing the total number of shares acquired to 11,502 Class A Common Stock.
The transactions come as part of the regular financial activities of corporate executives, who often buy or sell shares of their own companies for various personal financial strategies. These transactions are publicly reported to ensure transparency and provide investors with insight into the actions of a company's insiders.
Investors and market watchers often look at insider transactions as one of many indicators to gauge the financial health of a company and the confidence that executives have in their firm's prospects. However, such transactions are common and can be motivated by a variety of factors that do not necessarily reflect the executive's outlook on the company's future performance.
Xometry has not provided any specific reason for these transactions, and they should be viewed within the context of the company's ongoing business operations and market performance.
In other recent news, Xometry Inc (NASDAQ:XMTR). showcased a robust financial performance for Q2 2024, with record revenues, gross profits, and margins. The company's total quarterly revenue increased by 19% year-over-year (YoY) to $133 million, while its marketplace revenue saw a 25% YoY surge to $117 million. This growth was supported by a significant expansion in Xometry's active buyer base, which grew by 27% YoY.
The AI-powered marketplace for on-demand manufacturing also outlined strategic initiatives aimed at deepening its penetration in the manufacturing sector. These include expanding buyer and supplier networks, adding new processes and materials, and enhancing supplier services. Despite these advancements, supplier services revenue saw a 13% YoY decrease in Q2.
The company's growth trajectory appears optimistic, with an aim to achieve adjusted EBITDA profitability at a $600 million revenue run rate. Xometry also projects Q3 revenue to be between $136 million and $138 million, indicating a potential 14% to 16% YoY growth. These are recent developments that suggest Xometry is on track to reach its $1 billion revenue target.
InvestingPro Insights
Amidst the insider transactions at Xometry, Inc. (NASDAQ:XMTR), the company's financial and market performance provide additional context for investors. According to InvestingPro data, Xometry boasts a market capitalization of $926.28 million, underscoring its position in the market. The company's revenue for the last twelve months as of Q2 2024 stands at $502.36 million, with a notable revenue growth of 20.19% during the same period, signaling a robust expansion in sales.
However, Xometry's current P/E ratio is negative at -17.05, reflecting that the company is not profitable as of the last twelve months. This aligns with one of the InvestingPro Tips, which suggests that analysts do not expect the company to be profitable this year. Despite this, Xometry has experienced a strong return over the last three months, with a price total return of 48.46%, which could indicate investor optimism about the company's future prospects.
Another InvestingPro Tip highlights that Xometry operates with a moderate level of debt, which can be a sign of a balanced approach to leveraging and financial management. For those interested in further insights, InvestingPro offers additional tips on Xometry, providing deeper analysis for investors looking to understand the company's financial health and market position.
It's worth noting that the company's stock trades with high price volatility, which could be a factor for investors to consider in the context of the CTO's recent stock transactions. For more detailed analysis and to access the full list of InvestingPro Tips, investors can visit https://www.investing.com/pro/XMTR.
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