Procyon Advisors LLC acquired a new position in shares of 3D Systems Co. (NYSE:DDD – Get Rating) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,256 shares of the 3D printing company's stock, valued at approximately $99,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in 3D Systems by 0.7% during the 1st quarter. BlackRock Inc. now owns 19,931,354 shares of the 3D printing company's stock worth $332,454,000 after acquiring an additional 135,908 shares in the last quarter. Vanguard Group Inc. grew its holdings in 3D Systems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 13,588,454 shares of the 3D printing company's stock worth $226,656,000 after acquiring an additional 130,597 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of 3D Systems by 0.5% in the 1st quarter. Invesco Ltd. now owns 5,796,473 shares of the 3D printing company's stock valued at $96,685,000 after buying an additional 29,582 shares during the period. State Street Corp boosted its holdings in shares of 3D Systems by 4.4% in the 1st quarter. State Street Corp now owns 4,662,937 shares of the 3D printing company's stock valued at $77,778,000 after buying an additional 195,397 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of 3D Systems by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,703,862 shares of the 3D printing company's stock valued at $61,780,000 after buying an additional 52,520 shares during the period. 69.33% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
Separately, Credit Suisse Group assumed coverage on shares of 3D Systems in a report on Tuesday, August 16th. They issued an "underperform" rating and a $8.00 price target for the company. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.50.
Insider Activity at 3D Systems
In related news, EVP Andrew Martin Johnson sold 6,767 shares of 3D Systems stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $10.06, for a total value of $68,076.02. Following the sale, the executive vice president now directly owns 186,221 shares in the company, valued at approximately $1,873,383.26. The sale was disclosed in a legal filing with the SEC, which is available at
the SEC website. 3.45% of the stock is currently owned by insiders.
3D Systems Trading Down 2.2 %
NYSE DDD opened at $8.80 on Wednesday. 3D Systems Co. has a one year low of $8.78 and a one year high of $34.97. The company has a 50-day simple moving average of $10.65 and a 200-day simple moving average of $11.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.86 and a current ratio of 5.52. The firm has a market capitalization of $1.15 billion, a PE ratio of 4.84 and a beta of 1.42.
3D Systems (NYSE:DDD – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The 3D printing company reported ($0.07) earnings per share for the quarter. The firm had revenue of $140.00 million during the quarter, compared to the consensus estimate of $145.48 million. 3D Systems had a net margin of 39.08% and a negative return on equity of 6.43%. The company's revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, equities analysts forecast that 3D Systems Co. will post -0.58 earnings per share for the current year.
3D Systems Profile
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3D Systems Corporation, through its subsidiaries, provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.
Further Reading
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