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

Lingotto Investment Management LLP trimmed its stake in Desktop Metal, Inc. (NYSE:DM) by 90.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,817 shares of the pipeline company’s stock after selling 745,360 shares during the period. Lingotto Investment Management LLP owned about 0.25% of Desktop Metal worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Desktop Metal during the 2nd quarter valued at about $25,000. Levin Capital Strategies L.P. acquired a new stake in shares of Desktop Metal during the 1st quarter valued at about $35,000. Empowered Funds LLC acquired a new stake in shares of Desktop Metal during the 1st quarter valued at about $45,000. Summit Securities Group LLC acquired a new stake in shares of Desktop Metal during the 2nd quarter valued at about $258,000. Finally, Keating Investment Counselors Inc. acquired a new stake in shares of Desktop Metal during the 1st quarter valued at about $72,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Desktop Metal

In other news, CFO Jason M. Cole sold 24,064 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $4.23, for a total transaction of $101,790.72. Following the transaction, the chief financial officer now directly owns 69,352 shares in the company, valued at $293,358.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Desktop Metal Price Performance

Shares of DM stock opened at $4.70 on Wednesday. Desktop Metal, Inc. has a 1 year low of $3.62 and a 1 year high of $15.70. The firm’s 50 day moving average is $4.56 and its 200-day moving average is $5.92. The firm has a market capitalization of $155.29 million, a price-to-earnings ratio of -0.47 and a beta of 0.61. The company has a current ratio of 2.60, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13.

Desktop Metal (NYSE:DM) last announced its earnings results 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. Sell-side analysts forecast that Desktop Metal, Inc. will post -2.15 EPS for the current fiscal year.

About Desktop Metal

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.