Shifting Landscape: Victory Capital Management Reduces Stake in 3D Systems Co., Raises Questions about the Future of the Industry


Victory Capital Management Inc. decided to reduce their stake in 3D Systems Co. in a recent event in the 3D printing world, marking a dramatic shift in the landscape for this innovative sector. Victory Capital Management Inc. has sold approximately 37.8% its shares in 3D Systems Co. according to the Securities and Exchange Commission.

Victory Capital Management Inc. held 33,648 shares of the 3D-printing company prior to the sale. After disposing of 20,417 share during the first quarter their total holdings decreased to 13,231 share. Victory Capital Management Inc. has made a move that is not only intriguing, but also prompts questions about both companies’ future directions.

3D Systems Corporation, one of the world’s leading providers of 3D-printing and digital manufacturing solutions, has pioneered new technologies such as stereolithography and select laser sintering to transform digital data into tangible products. These technologies turn digital design inputs in to actual printed parts by using sophisticated software and tools.

Victory Capital Management Inc. has reduced its stake in the company by $361,000, according to their latest filing with SEC. This decision was probably based on careful analysis and assessment. Although it’s unclear what motivated this divestment, investors and insiders in the industry are eagerly waiting for further information.

Interestingly enough, this news follows another recent development within 3D Systems Corporation itself – Director Malissia Clinton’s sale of 8,685 shares from her personal holdings in May earlier this year. The average price of the shares at that time was $8.58, which amounted to a $74,517.30 total transaction value for Clinton.

With this transaction, Clinton’s personal ownership stake in the company has decreased, leaving her with 62,785 shares valued at $538,695.30. The company has properly disclosed this sale in a SEC-filed document.

Company insiders’ actions are closely monitored by investors as they often provide valuable clues about a company’s financial health and future prospects. In this case, 3.45% of the company’s stock is now owned by insiders, who possess unique insights and information about the firm.

When we examine the implications of recent developments at 3D Systems Co. it is clear that the future direction of the pioneering 3D-printing company is uncertain. Victory Capital Management Inc., and its Director Malissia Clinton’s recent decisions reflect the changing dynamics of the industry. They also bring to light questions regarding technological advancements and current market trends.

Only time will tell how these divestments will affect not only 3D Systems Co.’s market position but also its ability to innovate further in an increasingly competitive environment. As investors await further announcements and insights from company representatives, they remain attentive to any new developments that could shape the future trajectory of one of the most fascinating industries in recent history – 3D printing.

3D Systems Corporation

DDD

Buy

Updated on 15/08/2023

Price Target

Current $7.17

Concensus $14.00


Low Prices $14.00

Median $14.00

High Quality $14.00

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Social Sentiments

3:00 AM (UTC)

Date:15 August, 2023

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Analyst Ratings

Analyst or firm Rating
Noelle Dilts
Stifel Nicolaus
Buy

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Hedge funds and institutional investors show confidence in 3D Systems Corporation by increasing stock positions


August 14, 2023 – Hedge funds and institutional investors have been making significant changes to their positions in the stock of 3D Systems Corporation. Envestnet Asset Management Inc. increased its stake of the company by an astounding 40.7% over the first three months, and now owns 15,473 worth $258,000 shares. Bank of New York Mellon Corp, on the other hand, has increased its stake in 3D Systems, by 0.4%. It now owns 1,226,617 valued shares worth $20,461,000.

Citigroup Inc. also decided to increase its stake by an impressive 10.4% during the first quarter. Their investment is now 148,216 share worth $2,473,000. Natixis Advisors L.P. has purchased a stake of approximately $638,000.

MetLife Investment Management LLC, a third investor who significantly increased its holdings in 3D Systems over the first quarter, rounded out the top five. They acquired an additional 23,623 shares worth $1,095,000 – a considerable boost of 56.2%.

These transactions are a testament to the recent confidence hedge funds and institutional shareholders have had in 3D Systems Corporation. As it stands now, these entities own an impressive majority stake of approximately 68.61% of the company’s stock.

DDD opened on Monday morning (August 14, 2008) at $7.06. The fifty-day average was $9.28, and the two-hundred day average was $9.62. The company has a current market cap of $942.37 and a debt-to equity ratio of 0.63.

Despite these fluctuations and financial maneuvers within the company’s stocks and investments from various entities, 3D Systems Corporation remains a global leader in offering 3D printing and digital manufacturing solutions. The company is active in North America, Europe, Middle East Africa, Asia Pacific and Asia Pacific.

The company offers a wide range of 3D printing technologies, including stereolithography and selective laser sintering. They also offer direct metal printing, color-jet printing, polymer and SLA-based bioprinting. The company has a wide range of capabilities that allow them to turn digital data generated by 3D design tools or other similar tools into printed parts.

Analysts also took note of this development. StockNews.com recently initiated coverage on 3D Systems by issuing a “sell” rating on Thursday, May 18th. Similarly, Credit Suisse Group has decreased its price target on the company from $7.00 to $6.00, along with an “underperform” rating on the stock.

Overall, while hedge funds and institutional investors have made notable alterations to their positions in 3D Systems Corporation’s stock recently, it is clear that this company continues to make significant strides in their industry. They will continue to make significant strides in their industry as they develop new technologies and solutions, including 3D printing and digital manufacturing.



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