Royal Bank of Canada grew its position in shares of 3D Systems Corporation (NYSE:DDD) by 87.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 403,076 shares of the 3D printing company’s stock after purchasing an additional 188,112 shares during the quarter. Royal Bank of Canada owned approximately 0.35% of 3D Systems Corporation worth $7,538,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in DDD. BlackRock Inc. boosted its stake in shares of 3D Systems Corporation by 23,856.2% during the first quarter. BlackRock Inc. now owns 11,328,150 shares of the 3D printing company’s stock valued at $169,471,000 after purchasing an additional 11,280,863 shares in the last quarter. Pictet Asset Management Ltd. acquired a new stake in shares of 3D Systems Corporation during the second quarter valued at about $13,217,000. Quantitative Investment Management LLC acquired a new stake in shares of 3D Systems Corporation during the second quarter valued at about $9,353,000. Vanguard Group Inc. lifted its stake in shares of 3D Systems Corporation by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,057,170 shares of the 3D printing company’s stock worth $169,369,000 after acquiring an additional 446,186 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of 3D Systems Corporation by 40.8% in the second quarter. Blair William & Co. IL now owns 452,130 shares of the 3D printing company’s stock worth $8,455,000 after acquiring an additional 130,915 shares during the period. 56.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of 3D Systems Corporation (NYSE:DDD) opened at 11.54 on Friday. The company’s market capitalization is $1.31 billion. The company’s 50 day moving average price is $12.98 and its 200-day moving average price is $16.33. 3D Systems Corporation has a 1-year low of $11.38 and a 1-year high of $23.70.
3D Systems Corporation (NYSE:DDD) last announced its quarterly earnings results on Wednesday, August 2nd. The 3D printing company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.04). 3D Systems Corporation had a positive return on equity of 1.69% and a negative net margin of 5.39%. The company had revenue of $159.47 million for the quarter, compared to analyst estimates of $163.01 million. During the same period in the prior year, the business posted $0.12 earnings per share. 3D Systems Corporation’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that 3D Systems Corporation will post $0.44 earnings per share for the current year.
In other news, insider Vyomesh Joshi bought 15,400 shares of the stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $12.96 per share, with a total value of $199,584.00. Following the purchase, the insider now directly owns 165,400 shares in the company, valued at approximately $2,143,584. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.00% of the company’s stock.
A number of research firms recently commented on DDD. Zacks Investment Research raised 3D Systems Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Piper Jaffray Companies reiterated an “underweight” rating and issued a $14.00 target price on shares of 3D Systems Corporation in a report on Monday, July 3rd. Susquehanna Bancshares Inc assumed coverage on 3D Systems Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $16.00 target price for the company. Loop Capital began coverage on 3D Systems Corporation in a report on Monday, July 24th. They issued a “hold” rating and a $18.00 target price for the company. Finally, BidaskClub downgraded 3D Systems Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.12.
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About 3D Systems Corporation
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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