Lingotto Investment Management LLP Has $342,000 Position in Desktop Metal, Inc. (NYSE:DM)

Lingotto Investment Management LLP lessened its position in Desktop Metal, Inc. (NYSE:DM) by 90.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,817 shares of the pipeline company’s stock after selling 745,360 shares during the period. Lingotto Investment Management LLP’s holdings in Desktop Metal were worth $342,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DM. Summit Financial LLC increased its stake in Desktop Metal by 8.8% in the first quarter. Summit Financial LLC now owns 344,574 shares of the pipeline company’s stock valued at $303,000 after purchasing an additional 27,754 shares in the last quarter. Empowered Funds LLC bought a new stake in Desktop Metal in the first quarter valued at approximately $45,000. SG Americas Securities LLC increased its stake in Desktop Metal by 4,740.2% in the first quarter. SG Americas Securities LLC now owns 954,349 shares of the pipeline company’s stock valued at $840,000 after purchasing an additional 934,632 shares in the last quarter. Keating Investment Counselors Inc. bought a new stake in Desktop Metal in the first quarter valued at approximately $72,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Desktop Metal by 66.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 397,277 shares of the pipeline company’s stock valued at $350,000 after purchasing an additional 158,872 shares in the last quarter. Institutional investors own 56.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DM. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $5.50 target price (down previously from $12.50) on shares of Desktop Metal in a research note on Monday, July 8th. Craig Hallum reissued a “hold” rating on shares of Desktop Metal in a research report on Monday, July 1st. Finally, StockNews.com began coverage on shares of Desktop Metal in a research report on Tuesday, June 18th. They set a “sell” rating for the company.

Insider Activity at Desktop Metal

In related news, CFO Jason M. Cole sold 24,064 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $4.23, for a total value of $101,790.72. Following the completion of the transaction, the chief financial officer now owns 69,352 shares of the company’s stock, valued at $293,358.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.22% of the stock is owned by insiders.

Desktop Metal Stock Up 1.1 %

Shares of DM stock opened at $4.70 on Wednesday. The firm has a fifty day moving average of $4.56 and a 200-day moving average of $5.92. The company has a quick ratio of 1.31, a current ratio of 2.60 and a debt-to-equity ratio of 1.13. Desktop Metal, Inc. has a 12-month low of $3.62 and a 12-month high of $15.70. The company has a market capitalization of $155.29 million, a price-to-earnings ratio of -0.47 and a beta of 0.61.

Desktop Metal (NYSE:DM) last issued its quarterly earnings data on Tuesday, July 30th. The pipeline company reported ($0.53) earnings per share (EPS) for the quarter. Desktop Metal had a negative return on equity of 35.69% and a negative net margin of 215.57%. The company had revenue of $38.93 million for the quarter. As a group, equities research analysts predict that Desktop Metal, Inc. will post -2.15 earnings per share for the current fiscal year.

Desktop Metal Company Profile

Desktop Metal, Inc manufactures and sells additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Shop System, an entry-level metal 3D printing using binder jetting; X-series platform that provides binder jet 3D printing of specialty materials, including metals and ceramics, and tools; and P-Series offers high-speed metal 3D printing.