ARK Investment Management LLC reduced its position in shares of 3D Systems Co. (NYSE:DDD) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,797 shares of the 3D printing company’s stock after selling 39,505 shares during the period. ARK Investment Management LLC owned 0.21% of 3D Systems worth $3,298,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. purchased a new stake in 3D Systems during the first quarter worth about $117,000. Oppenheimer & Co. Inc. purchased a new stake in 3D Systems during the first quarter worth about $120,000. Private Advisor Group LLC purchased a new stake in 3D Systems during the first quarter worth about $147,000. Xact Kapitalforvaltning AB purchased a new stake in 3D Systems during the fourth quarter worth about $116,000. Finally, Cim Investment Mangement Inc. purchased a new stake in 3D Systems during the first quarter worth about $174,000. 66.07% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on the stock. Canaccord Genuity restated a “hold” rating and set a $13.00 price objective (up previously from $11.00) on shares of 3D Systems in a report on Wednesday, August 8th. Loop Capital raised their price objective on shares of 3D Systems to $17.00 and gave the stock a “hold” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of 3D Systems from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday. Susquehanna Bancshares set a $16.00 price objective on shares of 3D Systems and gave the stock a “hold” rating in a report on Friday. Finally, B. Riley raised their price objective on shares of 3D Systems from $7.00 to $9.00 and gave the stock a “sell” rating in a report on Wednesday, August 8th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. 3D Systems has an average rating of “Hold” and a consensus target price of $13.49.
3D Systems (NYSE:DDD) last posted its earnings results on Tuesday, August 7th. The 3D printing company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.12. The firm had revenue of $176.57 million during the quarter, compared to the consensus estimate of $165.83 million. 3D Systems had a negative net margin of 11.54% and a negative return on equity of 9.22%. equities research analysts anticipate that 3D Systems Co. will post -0.15 EPS for the current fiscal year.
In other 3D Systems news, Director G Walter Loewenbaum II bought 4,500 shares of 3D Systems stock in a transaction dated Tuesday, May 29th. The stock was purchased at an average price of $12.06 per share, for a total transaction of $54,270.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is owned by company insiders.
3D Systems Profile
3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
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