ARK Investment Management LLC Has $5.79 Million Position in Stratasys, Ltd. (NASDAQ:SSYS)

Key Points

• ARK Investment Management LLC decreased its stake in Stratasys, Ltd. by 15.9%, selling 111,847 shares in the first quarter, leaving it with 591,678 shares valued at approximately $5.79 million.
• Stratasys' recent earnings showed an EPS of $0.04, surpassing analysts' expectations of $0.03, although its revenue declined by 5.6% year over year.
• Institutional investors own 75.77% of Stratasys, with several firms, including Formidable Asset Management and HSBC Holdings, increasing their positions in the company during the last quarter.

ARK Investment Management LLC lessened its stake in shares of Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 15.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 591,678 shares of the technology company's stock after selling 111,847 shares during the quarter. ARK Investment Management LLC owned about 0.83% of Stratasys worth $5,793,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Stratasys in the 4th quarter worth about $68,000. Teton Advisors Inc. purchased a new stake in Stratasys during the fourth quarter worth $89,000. Harbor Capital Advisors Inc. purchased a new position in Stratasys in the first quarter valued at about $105,000. Hsbc Holdings PLC boosted its stake in shares of Stratasys by 10.4% during the 4th quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company's stock worth $148,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in Stratasys during the fourth quarter valued at $166,000. 75.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Stratasys from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Stratasys presently has a consensus rating of "Moderate Buy" and an average target price of $12.20.

Stratasys Stock Up 0.2%

SSYS stock traded up $0.02 during trading on Wednesday, hitting $10.87. The company had a trading volume of 167,757 shares, compared to its average volume of 526,303. The firm has a market capitalization of $923.25 million, a P/E ratio of -7.28 and a beta of 1.53. The company has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $10.40. Stratasys, Ltd. has a 52-week low of $6.05 and a 52-week high of $12.88.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $136.05 million during the quarter, compared to analyst estimates of $134.11 million. Stratasys had a negative net margin of 19.02% and a negative return on equity of 1.86%. Stratasys's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Sell-side analysts forecast that Stratasys, Ltd. will post -0.4 earnings per share for the current year.

About Stratasys

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.