Pinnacle Associates Ltd. Sells 38,825 Shares of 3D Systems Co. (NYSE:DDD)

Pinnacle Associates Ltd. trimmed its position in 3D Systems Co. (NYSE:DDD) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,033,276 shares of the 3D printing company’s stock after selling 38,825 shares during the period. Pinnacle Associates Ltd.’s holdings in 3D Systems were worth $6,561,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. ARK Investment Management LLC raised its position in 3D Systems by 7.5% in the fourth quarter. ARK Investment Management LLC now owns 3,109,753 shares of the 3D printing company’s stock valued at $19,747,000 after purchasing an additional 216,637 shares during the last quarter. Silverberg Bernstein Capital Management LLC bought a new position in 3D Systems in the 4th quarter valued at approximately $4,684,000. Raymond James & Associates boosted its position in 3D Systems by 18.0% during the 4th quarter. Raymond James & Associates now owns 115,996 shares of the 3D printing company’s stock worth $737,000 after buying an additional 17,660 shares during the period. Vanguard Group Inc. grew its holdings in 3D Systems by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,950,820 shares of the 3D printing company’s stock worth $68,499,000 after acquiring an additional 51,868 shares during the last quarter. Finally, Deutsche Bank AG increased its position in 3D Systems by 14.9% in the 3rd quarter. Deutsche Bank AG now owns 59,509 shares of the 3D printing company’s stock valued at $292,000 after acquiring an additional 7,729 shares during the period. Institutional investors and hedge funds own 64.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of 3D Systems in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $8.50 price objective on the stock. StockNews.com lowered 3D Systems from a “hold” rating to a “sell” rating in a research report on Sunday, March 3rd.

3D Systems Price Performance

Shares of DDD traded down $0.01 during trading hours on Friday, hitting $4.44. 862,707 shares of the stock were exchanged, compared to its average volume of 1,777,739. The company has a current ratio of 4.30, a quick ratio of 3.24 and a debt-to-equity ratio of 0.76. 3D Systems Co. has a fifty-two week low of $3.50 and a fifty-two week high of $11.09. The business has a 50-day moving average of $4.80 and a 200-day moving average of $4.93.

3D Systems (NYSE:DDD) last posted its quarterly earnings data on Tuesday, February 27th. The 3D printing company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.10). 3D Systems had a negative return on equity of 9.34% and a negative net margin of 75.90%. The business had revenue of $114.85 million during the quarter, compared to the consensus estimate of $124.33 million. Equities analysts anticipate that 3D Systems Co. will post -0.24 earnings per share for the current fiscal year.

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.