Markforged Holding Co. (NYSE:MKFG) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Markforged Holding Co. (NYSE:MKFG) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,822,249 shares of the company’s stock after selling 391,888 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 3.94% of Markforged worth $6,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. acquired a new stake in shares of Markforged during the 3rd quarter valued at approximately $59,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Markforged in the third quarter worth $27,000. Arete Wealth Advisors LLC acquired a new stake in Markforged in the third quarter worth $40,000. Essex Investment Management Co. LLC acquired a new stake in Markforged in the third quarter worth $931,000. Finally, Empirical Asset Management LLC increased its position in Markforged by 190.5% in the fourth quarter. Empirical Asset Management LLC now owns 30,500 shares of the company’s stock worth $25,000 after buying an additional 20,000 shares during the period. 87.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1.45 target price on shares of Markforged in a research report on Wednesday, February 28th.

Markforged Price Performance

Shares of NYSE MKFG opened at $0.68 on Wednesday. Markforged Holding Co. has a 1-year low of $0.50 and a 1-year high of $2.30. The business’s fifty day moving average price is $0.71 and its two-hundred day moving average price is $0.76. The firm has a market capitalization of $136.46 million, a PE ratio of -1.29 and a beta of 1.51.

Markforged (NYSE:MKFG) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $24.17 million for the quarter, compared to analyst estimates of $20.95 million. Markforged had a negative return on equity of 25.97% and a negative net margin of 110.43%. During the same period last year, the company earned ($0.06) earnings per share. Equities research analysts expect that Markforged Holding Co. will post -0.2 earnings per share for the current fiscal year.

Markforged Company Profile

Markforged Holding Corporation produces and sells 3D printers, materials, software, and other related services worldwide. It offers desktop, industrial, and metal 3D printers; and composite, continuous fiber, and metal parts, as well as advanced 3D printing software. The company serves customers in aerospace, military and defense, food and beverage, industrial automation, space exploration, healthcare, and automotive industries.