3D Systems Corporation (NYSE:DDD) Position Cut by Pitcairn Co.
Pitcairn Co. lowered its position in shares of 3D Systems Corporation (NYSE:DDD) by 11.8% during the second quarter, Holdings Channel reports. The fund owned 26,500 shares of the 3D printing company’s stock after selling 3,546 shares during the period. Pitcairn Co.’s holdings in 3D Systems Corporation were worth $496,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. BlackRock Inc. boosted its position in 3D Systems Corporation by 23,856.2% in the first quarter. BlackRock Inc. now owns 11,328,150 shares of the 3D printing company’s stock worth $169,471,000 after buying an additional 11,280,863 shares during the last quarter. Vanguard Group Inc. boosted its position in 3D Systems Corporation by 1.8% in the first quarter. Vanguard Group Inc. now owns 8,610,984 shares of the 3D printing company’s stock worth $128,820,000 after buying an additional 152,698 shares during the last quarter. State Street Corp boosted its position in 3D Systems Corporation by 3.2% in the first quarter. State Street Corp now owns 3,329,492 shares of the 3D printing company’s stock worth $49,800,000 after buying an additional 103,745 shares during the last quarter. Investment Management of Virginia LLC boosted its position in 3D Systems Corporation by 5.5% in the first quarter. Investment Management of Virginia LLC now owns 1,697,859 shares of the 3D printing company’s stock worth $25,400,000 after buying an additional 88,763 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new position in 3D Systems Corporation during the first quarter worth about $20,539,000. Institutional investors own 55.36% of the company’s stock.
3D Systems Corporation (NYSE:DDD) opened at 12.78 on Tuesday. The stock has a 50 day moving average price of $17.00 and a 200 day moving average price of $17.32. 3D Systems Corporation has a 52-week low of $12.34 and a 52-week high of $23.70. The company’s market capitalization is $1.45 billion.
3D Systems Corporation (NYSE:DDD) last announced its quarterly earnings results on Wednesday, August 2nd. The 3D printing company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.04. The business had revenue of $159.47 million for the quarter, compared to analysts’ expectations of $163.01 million. 3D Systems Corporation had a positive return on equity of 1.69% and a negative net margin of 5.39%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. On average, equities analysts expect that 3D Systems Corporation will post $0.44 earnings per share for the current year.
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Several equities research analysts have weighed in on the company. Susquehanna Bancshares Inc assumed coverage on 3D Systems Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $16.00 target price for the company. FBR & Co reiterated a “hold” rating and issued a $18.00 target price on shares of 3D Systems Corporation in a report on Monday, May 15th. Canaccord Genuity reiterated a “hold” rating and issued a $15.00 target price on shares of 3D Systems Corporation in a report on Friday, May 26th. BidaskClub cut 3D Systems Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded 3D Systems Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.00.
In other 3D Systems Corporation news, EVP Andrew Martin Johnson sold 10,000 shares of 3D Systems Corporation stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $21.19, for a total transaction of $211,900.00. Following the completion of the sale, the executive vice president now directly owns 241,666 shares of the company’s stock, valued at approximately $5,120,902.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vyomesh Joshi purchased 15,400 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $12.96 per share, with a total value of $199,584.00. Following the completion of the acquisition, the insider now directly owns 165,400 shares in the company, valued at $2,143,584. The disclosure for this purchase can be found here. Insiders have sold a total of 102,500 shares of company stock valued at $2,221,425 over the last ninety days. 5.00% of the stock is owned by company insiders.
About 3D Systems Corporation
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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