State Street Corp Trims Stake in 3D Systems Co. (NYSE:DDD)

State Street Corp cut its holdings in shares of 3D Systems Co. (NYSE:DDD) by 24.5% in the third quarter, HoldingsChannel.com reports. The firm owned 5,813,593 shares of the 3D printing company’s stock after selling 1,882,754 shares during the quarter. State Street Corp’s holdings in 3D Systems were worth $16,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DDD. Intech Investment Management LLC boosted its stake in 3D Systems by 6.4% during the third quarter. Intech Investment Management LLC now owns 52,323 shares of the 3D printing company’s stock worth $149,000 after buying an additional 3,166 shares during the period. Inspire Investing LLC boosted its position in shares of 3D Systems by 33.7% during the 3rd quarter. Inspire Investing LLC now owns 15,138 shares of the 3D printing company’s stock worth $43,000 after purchasing an additional 3,818 shares during the period. BNP Paribas Financial Markets increased its holdings in 3D Systems by 14.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,778 shares of the 3D printing company’s stock valued at $133,000 after purchasing an additional 5,884 shares during the last quarter. Impact Partnership Wealth LLC raised its position in 3D Systems by 49.4% in the third quarter. Impact Partnership Wealth LLC now owns 21,157 shares of the 3D printing company’s stock valued at $60,000 after purchasing an additional 6,992 shares during the period. Finally, SG Americas Securities LLC lifted its stake in 3D Systems by 23.8% during the third quarter. SG Americas Securities LLC now owns 45,617 shares of the 3D printing company’s stock worth $130,000 after purchasing an additional 8,769 shares in the last quarter. 64.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Charles W. Hull sold 115,971 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $3.86, for a total value of $447,648.06. Following the transaction, the executive vice president now owns 331,955 shares in the company, valued at approximately $1,281,346.30. This represents a 25.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey A. Graves bought 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $3.85 per share, with a total value of $231,000.00. Following the purchase, the chief executive officer now owns 1,091,782 shares of the company’s stock, valued at $4,203,360.70. The trade was a 5.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.70% of the stock is owned by insiders.

3D Systems Stock Performance

Shares of 3D Systems stock opened at $3.56 on Wednesday. The business has a 50-day simple moving average of $3.23 and a 200-day simple moving average of $3.07. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.34 and a current ratio of 3.31. 3D Systems Co. has a one year low of $1.72 and a one year high of $6.85. The company has a market cap of $482.81 million, a PE ratio of -0.89 and a beta of 1.64.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com upgraded 3D Systems from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Cantor Fitzgerald cut their price target on shares of 3D Systems from $5.50 to $3.75 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Lake Street Capital lowered their price objective on shares of 3D Systems from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Loop Capital cut their target price on shares of 3D Systems from $4.50 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of 3D Systems in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, 3D Systems currently has an average rating of “Hold” and an average price target of $3.25.

3D Systems Profile

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.