Many executives at 3D Systems Corporation (NYSE:DDD), including chief technology officer and EVP Charles Hull, have been unloading shares of the company frequently. But the company CEO Abraham Reichental rarely offloads his stake. Reichental has sold shares of 3D Systems only twice this year. He had sold 66,700 shares of the company at $60.11 per share on March 14, 2014.
3D Systems CEO sells 52,300 shares
Reichental revealed in his Form 4 filing with the SEC that he unloaded 52,300 shares of 3D Systems stock in the open market on Friday, August 29. He sold the shares at $53.20 apiece for a total transaction value of $2,782,360. Following the transaction, Reichental now directly holds 1,492,812 shares of 3D Systems, valued at $79.41 million.
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3D Systems chief financial officer Damon Gregoire was the another senior executive to sell shares last week. Gregoire unloaded 50,000 shares of 3D Systems stock on August 27. He sold those shares at $52.72 apiece, raking in $2.63 million. Damon Gregoire still owns 249,000 shares of the Rock Hill-based company. Previously, Gregoire had sold 22,500 shares at an average price of $49 on May 7, 2014.
3D Systems completes the acquisition of Simbionix
The 3D printing company has been on an acquisition spree. About a month after it announced the acquisition of Simbionix, 3D systems said Thursday that it had completed the transaction. 3D Systems paid $120 million for Simbionix, and now officially owns the medical 3D solutions company. The deal will be accretive to 3D Systems’ earnings immediately.
Last month, 3D Systems also acquired Laser Reproductions for an undisclosed sum. On August 29, Stifel Nicolaus analysts initiated coverage of the stock with a Buy rating and $65 price target. Wall Street analysts have assigned 3D Systems a consensus rating of Hold, according to data from Thomson Reuters/First Call. The 3D printing company announced last week that it would showcase its latest 3D printing solutions at the International Technology Manufacturing Show, which will be held at McCormick Place in Chicago on September 8-13.
3D Systems shares rose 0.60% on Friday to close at $53.51.