3D Systems Corporation (DDD) Director Sells Stock

0
3D Systems Corporation (DDD) Director Sells Stock

3D Systems Corporation (NYSE:DDD) director G. Walter Loewenbaum II unloaded 50,000 shares of his company’s stock on Wednesday at an average price of around $71 a share, raking in nearly $3.6 million in the sale. That’s according to a regulatory filing with the Securities and Exchange Commission. That left him with more than 1 million shares of the company’s stock left, which are valued at more than $73 million.

Play Quizzes 4

Of course it isn’t that uncommon for insiders to sell shares of their company’s stock. They create prearranged trading plans so that they can schedule shares to be sold at certain levels before they have any kind of material knowledge which could affect the company’s share price. Insiders are required to disclose sales of their company’s stock. Since 3D Systems Corporation (NYSE:DDD) had been on a run through the end of last year, it probably isn’t a surprise that an insider would decide to turn some paper profits into cash, as the stock is still up from where it was back in September.

This Long/ Short Equity Firm Sees A Time-Arbitrage Opportunity In This Pest Control Merger

PestYost Partners was up 0.8% for the first quarter, while the Yost Focused Long Funds lost 5% net. The firm's benchmark, the MSCI World Index, declined by 5.2%. The funds' returns outperformed their benchmark due to their tilt toward value, high exposures to energy and financials and a bias toward quality. In his first-quarter letter Read More

3D Systems shares trend downward

3D Systems Corporation (NYSE:DDD) released its last earnings report a week ago, and the company delivered record fourth quarter revenue. Nonetheless, its stock continued the downward trend which began around Feb. 24, a few days before that last earnings report. 3D printing stocks have been hot these last several weeks, but investors may have had their fill.

Analysts still like 3D Systems

In the wake of 3D Systems Corporation (NYSE:DDD)’s latest earnings report, analysts continue to see the company in a neutral to positive light. Credit Suisse analysts increased their price target for 3D Systems to $79 a share earlier this week. They have a Neutral rating on the company. Canaccord Genuity analysts also increased their price target for the company

In addition, Piper Jaffray analysts increased their price target for 3D Systems Corporation (NYSE:DDD), raising it from $69 to $82 a share earlier this week as well. They actually have an Overweight rating on the company.

 

Updated on

Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@valuewalk.com.
Previous article Microsoft’s Gates, Nadella Opposed Nokia Deal [REPORT]
Next article Roger Lace, President of Hamblin Watsa, On His Value Approach

No posts to display