Parallel Advisors LLC grew its position in shares of 3D Systems Co. (NYSE:DDD) by 49.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,966 shares of the 3D printing company’s stock after buying an additional 7,283 shares during the quarter. Parallel Advisors LLC’s holdings in 3D Systems were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc bought a new position in shares of 3D Systems during the 2nd quarter valued at $205,000. Crossmark Global Holdings Inc. bought a new position in 3D Systems in the 2nd quarter worth $221,000. Alps Advisors Inc. raised its holdings in 3D Systems by 110.9% in the 2nd quarter. Alps Advisors Inc. now owns 21,281 shares of the 3D printing company’s stock worth $294,000 after purchasing an additional 11,192 shares during the period. CIBC World Markets Inc. bought a new position in 3D Systems in the 1st quarter worth $302,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in 3D Systems in the 2nd quarter worth $332,000. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on DDD shares. Zacks Investment Research raised 3D Systems from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Monday, August 13th. ValuEngine raised 3D Systems from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Canaccord Genuity reaffirmed a “hold” rating and issued a $13.00 target price (up from $11.00) on shares of 3D Systems in a report on Wednesday, August 8th. Loop Capital raised their target price on 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. Finally, Susquehanna Bancshares set a $16.00 target price on 3D Systems and gave the stock a “hold” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. 3D Systems presently has an average rating of “Hold” and an average price target of $13.74.
3D Systems (NYSE:DDD) last issued its quarterly earnings results on Tuesday, October 30th. The 3D printing company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). 3D Systems had a negative return on equity of 5.12% and a negative net margin of 7.53%. The business had revenue of $164.50 million during the quarter, compared to analysts’ expectations of $171.82 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that 3D Systems Co. will post -0.13 EPS for the current year.
In other news, COO Kevin Mcalea sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $21.21, for a total transaction of $424,200.00. Following the completion of the transaction, the chief operating officer now owns 250,257 shares in the company, valued at $5,307,950.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew Martin Johnson sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. The disclosure for this sale can be found here. Insiders sold a total of 33,400 shares of company stock valued at $669,400 in the last quarter. 5.00% of the stock is currently 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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