Desktop Metal, Inc. (NYSE:DM) Shares Sold by DnB Asset Management AS

DnB Asset Management AS trimmed its holdings in Desktop Metal, Inc. (NYSE:DMGet Rating) by 45.9% in the second quarter, HoldingsChannel.com reports. The firm owned 233,062 shares of the pipeline company’s stock after selling 198,107 shares during the quarter. DnB Asset Management AS’s holdings in Desktop Metal were worth $513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. boosted its holdings in shares of Desktop Metal by 73.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 8,058 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 3,416 shares during the period. Rothschild Investment Corp IL acquired a new stake in shares of Desktop Metal in the first quarter valued at approximately $47,000. Canada Pension Plan Investment Board acquired a new stake in shares of Desktop Metal in the first quarter valued at approximately $47,000. MPS Loria Financial Planners LLC acquired a new stake in shares of Desktop Metal during the first quarter worth $52,000. Finally, Shay Capital LLC acquired a new stake in shares of Desktop Metal during the fourth quarter worth $54,000. 36.62% of the stock is owned by institutional investors and hedge funds.

Desktop Metal Trading Down 12.5 %

NYSE:DM opened at $2.59 on Friday. Desktop Metal, Inc. has a 1 year low of $1.26 and a 1 year high of $9.69. The stock has a market capitalization of $817.33 million, a price-to-earnings ratio of -1.54 and a beta of 0.25. The stock has a fifty day moving average price of $2.92 and a two-hundred day moving average price of $3.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.37 and a current ratio of 4.32.

Desktop Metal (NYSE:DMGet Rating) last announced its quarterly earnings results on Monday, August 8th. The pipeline company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Desktop Metal had a negative net margin of 275.35% and a negative return on equity of 17.56%. The firm had revenue of $57.67 million during the quarter, compared to analysts’ expectations of $55.70 million. As a group, sell-side analysts anticipate that Desktop Metal, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Credit Suisse Group assumed coverage on Desktop Metal in a report on Tuesday, August 16th. They set a “neutral” rating and a $2.80 price target for the company. Craig Hallum increased their price target on Desktop Metal to $2.50 in a report on Monday, August 15th. Finally, Benchmark cut their price objective on Desktop Metal to $6.00 in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Desktop Metal has a consensus rating of “Hold” and a consensus price target of $4.46.

Insider Activity

In other news, CEO Ric Fulop purchased 30,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was acquired at an average price of $3.09 per share, for a total transaction of $92,700.00. Following the completion of the transaction, the chief executive officer now directly owns 20,253,999 shares in the company, valued at approximately $62,584,856.91. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 41,000 shares of company stock worth $127,960 over the last 90 days. 16.78% of the stock is currently owned by corporate insiders.

Desktop Metal Profile

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Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.

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Institutional Ownership by Quarter for Desktop Metal (NYSE:DM)

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