Sumitomo Mitsui Trust Holdings Inc. Decreases Stake in 908 Devices Inc. (NASDAQ:MASS)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of 908 Devices Inc. (NASDAQ:MASS) by 3.4% in the first quarter, Holdings Channel reports. The fund owned 562,294 shares of the company’s stock after selling 19,740 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in 908 Devices were worth $4,245,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. ARK Investment Management LLC increased its position in 908 Devices by 8.3% during the fourth quarter. ARK Investment Management LLC now owns 4,346,579 shares of the company’s stock valued at $48,769,000 after acquiring an additional 333,119 shares during the last quarter. Granahan Investment Management LLC increased its position in 908 Devices by 10.6% in the fourth quarter. Granahan Investment Management LLC now owns 2,038,658 shares of the company’s stock worth $22,874,000 after buying an additional 195,368 shares in the last quarter. Iron Triangle Partners LP raised its stake in shares of 908 Devices by 31.1% in the fourth quarter. Iron Triangle Partners LP now owns 1,284,947 shares of the company’s stock worth $14,417,000 after buying an additional 304,484 shares during the period. New York State Common Retirement Fund raised its stake in shares of 908 Devices by 5.0% in the fourth quarter. New York State Common Retirement Fund now owns 74,033 shares of the company’s stock worth $831,000 after buying an additional 3,508 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of 908 Devices in the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

908 Devices Stock Up 2.2 %

NASDAQ MASS opened at $4.71 on Thursday. The stock’s 50-day moving average price is $5.83 and its 200-day moving average price is $6.78. 908 Devices Inc. has a 52 week low of $4.57 and a 52 week high of $12.51. The company has a market capitalization of $162.45 million, a P/E ratio of -4.40 and a beta of 1.01.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.03. 908 Devices had a negative return on equity of 20.87% and a negative net margin of 68.57%. The firm had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. During the same quarter last year, the company earned ($0.39) earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate that 908 Devices Inc. will post -1.12 EPS for the current year.

Insider Buying and Selling

In other 908 Devices news, CEO Kevin J. Knopp bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $6.42 per share, for a total transaction of $64,200.00. Following the completion of the transaction, the chief executive officer now owns 508,981 shares of the company’s stock, valued at approximately $3,267,658.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 30,000 shares of company stock worth $178,500. 27.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Stephens reaffirmed an “overweight” rating and issued a $14.00 price objective on shares of 908 Devices in a research note on Monday, May 13th.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.