3D Systems (NYSE:DDD) Shares Gap Up After Insider Buying Activity

3D Systems Co. (NYSE:DDD)’s share price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $3.58, but opened at $3.90. 3D Systems shares last traded at $3.75, with a volume of 556,249 shares trading hands.

Specifically, CEO Jeffrey A. Graves purchased 60,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $3.85 per share, for a total transaction of $231,000.00. Following the purchase, the chief executive officer now owns 1,091,782 shares in the company, valued at $4,203,360.70. This trade represents a 5.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

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

3D Systems Price Performance

The stock’s 50 day moving average is $3.19 and its two-hundred day moving average is $3.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.34 and a current ratio of 3.31. The stock has a market capitalization of $505.86 million, a PE ratio of -0.94 and a beta of 1.64.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new position in 3D Systems during the third quarter worth about $25,000. Murchinson Ltd. purchased a new stake in shares of 3D Systems in the 3rd quarter valued at $28,000. HighTower Advisors LLC acquired a new position in 3D Systems in the 3rd quarter valued at about $31,000. Inspire Investing LLC purchased a new stake in 3D Systems during the second quarter worth about $35,000. Finally, Ballentine Partners LLC acquired a new stake in shares of 3D Systems during the third quarter worth about $36,000. 64.49% of the stock is currently owned by institutional investors and hedge funds.

3D Systems Company 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.