ARK Investment Management LLC Raises Holdings in 908 Devices Inc. (NASDAQ:MASS)

ARK Investment Management LLC increased its position in shares of 908 Devices Inc. (NASDAQ:MASS) by 8.3% in the 4th quarter, Holdings Channel reports. The firm owned 4,346,579 shares of the company’s stock after purchasing an additional 333,119 shares during the period. ARK Investment Management LLC owned 0.13% of 908 Devices worth $48,769,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of 908 Devices by 50.3% during the first quarter. Ameriprise Financial Inc. now owns 1,876,467 shares of the company’s stock worth $16,138,000 after purchasing an additional 627,742 shares in the last quarter. Granahan Investment Management LLC boosted its stake in 908 Devices by 1.5% during the second quarter. Granahan Investment Management LLC now owns 1,785,753 shares of the company’s stock worth $12,250,000 after buying an additional 26,777 shares during the last quarter. BlackRock Inc. boosted its stake in 908 Devices by 2.2% during the second quarter. BlackRock Inc. now owns 1,730,883 shares of the company’s stock worth $11,874,000 after buying an additional 37,813 shares during the last quarter. Vanguard Group Inc. boosted its stake in 908 Devices by 25.5% during the third quarter. Vanguard Group Inc. now owns 1,422,151 shares of the company’s stock worth $23,394,000 after buying an additional 288,923 shares during the last quarter. Finally, State Street Corp boosted its stake in 908 Devices by 1.0% during the first quarter. State Street Corp now owns 802,162 shares of the company’s stock worth $6,899,000 after buying an additional 7,553 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

908 Devices Price Performance

NASDAQ MASS opened at $6.95 on Thursday. The stock’s fifty day moving average is $7.18 and its two-hundred day moving average is $7.08. 908 Devices Inc. has a fifty-two week low of $4.85 and a fifty-two week high of $12.51.

908 Devices (NASDAQ:MASS) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $14.40 million for the quarter, compared to analyst estimates of $14.16 million. 908 Devices had a negative return on equity of 21.09% and a negative net margin of 72.47%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, research analysts anticipate that 908 Devices Inc. will post -1.27 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin J. Knopp sold 9,071 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $7.00, for a total value of $63,497.00. Following the transaction, the chief executive officer now owns 411,981 shares of the company’s stock, valued at approximately $2,883,867. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Michael S. Turner sold 5,232 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $6.99, for a total value of $36,571.68. Following the sale, the insider now owns 9,105 shares in the company, valued at approximately $63,643.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin J. Knopp sold 9,071 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $7.00, for a total value of $63,497.00. Following the completion of the sale, the chief executive officer now owns 411,981 shares in the company, valued at approximately $2,883,867. The disclosure for this sale can be found here. Insiders have sold a total of 20,001 shares of company stock valued at $139,955 in the last quarter. Insiders own 27.80% of the company’s stock.

908 Devices Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.