State Street Corp Sells 12,741 Shares of 3D Systems Co. (DDD)
State Street Corp reduced its stake in shares of 3D Systems Co. (NYSE:DDD) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 3,225,747 shares of the 3D printing company’s stock after selling 12,741 shares during the period. State Street Corp’s holdings in 3D Systems were worth $42,875,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in DDD. JPMorgan Chase & Co. boosted its position in 3D Systems by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 97,895 shares of the 3D printing company’s stock valued at $1,758,000 after buying an additional 3,883 shares during the period. Rhumbline Advisers boosted its position in 3D Systems by 3.2% in the third quarter. Rhumbline Advisers now owns 197,269 shares of the 3D printing company’s stock valued at $3,541,000 after buying an additional 6,095 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in 3D Systems during the third quarter valued at about $2,155,000. BlackRock Investment Management LLC boosted its position in 3D Systems by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 664,027 shares of the 3D printing company’s stock valued at $11,919,000 after buying an additional 2,954 shares during the period. Finally, BlackRock Fund Advisors boosted its position in 3D Systems by 5.7% in the third quarter. BlackRock Fund Advisors now owns 6,028,844 shares of the 3D printing company’s stock valued at $108,218,000 after buying an additional 323,297 shares during the period. 50.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of 3D Systems Co. (NYSE:DDD) opened at 14.76 on Tuesday. 3D Systems Co. has a 52 week low of $11.59 and a 52 week high of $19.76. The firm’s 50-day moving average is $15.96 and its 200-day moving average is $15.37. The stock’s market capitalization is $1.67 billion.
3D Systems (NYSE:DDD) last posted its quarterly earnings data on Tuesday, February 28th. The 3D printing company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. 3D Systems had a negative net margin of 98.40% and a positive return on equity of 4.14%. The business earned $165.90 million during the quarter, compared to the consensus estimate of $176.76 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. Analysts forecast that 3D Systems Co. will post $0.53 earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on DDD shares. Zacks Investment Research raised 3D Systems from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, February 14th. Brean Capital reaffirmed a “hold” rating on shares of 3D Systems in a research report on Wednesday, December 14th. FBR & Co reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of 3D Systems in a research report on Wednesday, March 1st. Vetr cut 3D Systems from a “strong-buy” rating to a “buy” rating and set a $16.70 price objective on the stock. in a research report on Wednesday, December 7th. Finally, Goldman Sachs Group Inc reaffirmed a “neutral” rating and issued a $16.00 price objective on shares of 3D Systems in a research report on Tuesday, December 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.33.
In other news, EVP Andrew Martin Johnson sold 4,000 shares of 3D Systems stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $14.70, for a total transaction of $58,800.00. Following the completion of the sale, the executive vice president now directly owns 251,666 shares in the company, valued at $3,699,490.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.40% of the company’s stock.
About 3D Systems
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) products and services, including 3D printers, print materials, parts services and digital design and manufacturing tools. Its ecosystem supports applications from the product design shop to the factory floor to the operating room.
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