National Bank of Canada FI sells 347,147 shares of Desktop Metal, Inc. (NYSE:DM)

National Bank of Canada FI reduced its holdings in Desktop Metal, Inc. (NYSE: DM – Get Rating) by 98.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund held 6,379 shares of the pipeline company after selling 347,147 shares during the quarter. National Bank of Canada FI’s holdings in Desktop Metal were worth $30,000 at the end of the most recent reporting period.

Other institutional investors have also recently changed their stake in the company. Itau Unibanco Holding SA increased its stake in Desktop Metal shares by 73.6% in the fourth quarter. Itau Unibanco Holding SA now owns 8,058 shares of the pipeline company worth $41,000 after buying 3,416 additional shares in the last quarter. Rothschild Investment Corp IL purchased a new stake in Desktop Metal during the first quarter for $47,000. Shay Capital LLC purchased a new stake in Desktop Metal during the fourth quarter for $54,000. Blair William & Co. IL bought a new stake in Desktop Metal during the fourth quarter for $65,000. Finally, Daiwa Securities Group Inc. increased its position in Desktop Metal by 189.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,807 shares of the pipeline company valued at $73,000 after acquiring 9,692 additional shares in the last quarter. Institutional investors hold 39.23% of the company’s shares.

Analysts set new price targets

Separately, upgraded Desktop Metal shares to a “sell” rating in a Wednesday, May 11 research report. One investment analyst gave the stock a sell rating, three gave the company a hold rating and three gave the company a buy rating. According to MarketBeat, Desktop Metal currently has an average rating of “Hold” and an average price target of $9.00.

Performance of office metal stocks

DM shares opened at $3.34 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -1.99 and a beta of 0.50. The company’s fifty-day simple moving average is $2.35 and its two-hundred-day simple moving average is $3.24. The company has a current ratio of 4.32, a quick ratio of 2.57 and a debt ratio of 0.13. Desktop Metal, Inc. has a 12-month low of $1.26 and a 12-month high of $9.69.

Insider Trading at Desktop Metal

Separately, CEO Ric Fulop acquired 30,000 shares of the company in a transaction dated Thursday, August 11. The shares were purchased at an average price of $3.09 per share, with a total value of $92,700.00. As a result of the transaction, the CEO now directly owns 20,253,999 shares of the company, valued at $62,584,856.91. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Insiders own 16.78% of the shares of the company.

Desktop metal profile

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Desktop Metal, Inc engages in the manufacture and sale of additive manufacturing technologies for engineers, designers and makers in the Americas, Europe, Middle East, Africa and Asia-Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-Series platform for mass production of metal, ceramic or composite 3D printed parts by binder jetting, balancing speed and quality; and Studio System, a desktop metal 3D printing system; and the Fiber platform which offers a desktop 3D printer.

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Institutional ownership by quarter for Desktop Metal (NYSE:DM)

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