Great West Life Assurance Co. Can lessened its holdings in shares of 3D Systems Co. (NYSE:DDD) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,149 shares of the 3D printing company’s stock after selling 14,958 shares during the period. Great West Life Assurance Co. Can owned approximately 0.11% of 3D Systems worth $657,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of DDD. Point72 Hong Kong Ltd acquired a new position in shares of 3D Systems in the 2nd quarter valued at $34,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of 3D Systems in the 3rd quarter valued at $54,000. Private Advisor Group LLC acquired a new position in shares of 3D Systems in the 2nd quarter valued at $61,000. Fortis Group Advisors LLC acquired a new position in shares of 3D Systems in the 3rd quarter valued at $75,000. Finally, Aperio Group LLC increased its position in shares of 3D Systems by 62.5% in the 3rd quarter. Aperio Group LLC now owns 27,458 shares of the 3D printing company’s stock valued at $135,000 after acquiring an additional 10,563 shares during the period. Hedge funds and other institutional investors own 60.93% of the company’s stock.
Several brokerages have weighed in on DDD. BidaskClub raised 3D Systems from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. William Blair raised 3D Systems from an “underperform” rating to a “market perform” rating in a research report on Tuesday, November 10th. Berenberg Bank began coverage on 3D Systems in a research report on Friday, October 9th. They set a “buy” rating and a $8.00 price target on the stock. B. Riley increased their price target on 3D Systems from $8.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, January 8th. Finally, Craig Hallum raised their target price on 3D Systems from $11.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $15.50.
3D Systems (NYSE:DDD) last issued its quarterly earnings results on Thursday, November 5th. The 3D printing company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. The firm had revenue of $135.15 million for the quarter, compared to analyst estimates of $113.98 million. 3D Systems had a negative net margin of 24.61% and a negative return on equity of 11.38%. 3D Systems’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS. On average, sell-side analysts predict that 3D Systems Co. will post -0.34 EPS for the current fiscal year.
In other 3D Systems news, EVP Menno Ellis sold 10,479 shares of the firm’s stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $10.44, for a total value of $109,400.76. Following the transaction, the executive vice president now directly owns 104,136 shares of the company’s stock, valued at approximately $1,087,179.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Martin Johnson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $8.00, for a total transaction of $128,000.00. Following the completion of the transaction, the executive vice president now directly owns 207,951 shares in the company, valued at $1,663,608. The disclosure for this sale can be found here. Insiders sold a total of 34,479 shares of company stock worth $317,161 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
3D Systems Profile
3D Systems Corporation, through its subsidiaries, provides 3D printing and digital manufacturing solutions worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
Further Reading: How Investors Use a Balance Sheet
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