Is Markforged Holding (MKFG) A Smart Long-Term Buy?

Baron Funds, an asset management firm, published its “Baron Opportunity Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A decline of 2.03% was delivered by the fund’s institutional shares for the third quarter of 2021. For the period, the Fund trailed the Russell 3000 Growth Index, which rose 0.69%, and the S&P 500 Index, which increased 0.58%. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Baron Opportunity Fund, in its Q3 2021 investor letter, mentioned Markforged Holding Corporation (NYSE: MKFG) and discussed its stance on the firm. Markforged Holding Corporation is a Watertown, Massachusetts-based industrial additive manufacturing platform provider with a $1.0 billion market capitalization. MKFG delivered a -47.26% return since the beginning of the year, while its 12-month returns are down by -44.91%. The stock closed at $5.68 per share on December 08, 2021.

Here is what Baron Opportunity Fund has to say about Markforged Holding Corporation  in its Q3 2021 investor letter:

“During the quarter, we participated in the SPAC offering of Markforged Holding Corporation, an innovative 3D printing or additive manufacturing company. The stock traded down materially after the SPAC deal closed and we ultimately decided to sell some of our Markforged shares to harvest a short-term tax loss and provide capital for an investment in another 3D printing company.”

Pixabay/Public Domain

Based on our calculations, Markforged Holding Corporation (NYSE: MKFG) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. MKFG was in 13 hedge fund portfolios at the end of the third quarter of 2021, compared to 0 funds in the previous quarter. Markforged Holding Corporation (NYSE: MKFG) delivered a -29.00% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.