ARK Investment Management LLC Sells 111,847 Shares of 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 cut its holdings in Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 15.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 591,678 shares of the technology company's stock after selling 111,847 shares during the quarter. ARK Investment Management LLC owned 0.83% of Stratasys worth $5,793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Formidable Asset Management LLC lifted its position in Stratasys by 4.1% in the 4th quarter. Formidable Asset Management LLC now owns 24,545 shares of the technology company's stock valued at $218,000 after acquiring an additional 965 shares in the last quarter. Hsbc Holdings PLC lifted its position in Stratasys by 10.4% in the 4th quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company's stock valued at $148,000 after acquiring an additional 1,564 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Stratasys by 12.1% in the 4th quarter. Point72 Asset Management L.P. now owns 28,371 shares of the technology company's stock valued at $252,000 after acquiring an additional 3,071 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Stratasys by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,249 shares of the technology company's stock valued at $1,832,000 after acquiring an additional 3,797 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Stratasys by 0.6% in the 4th quarter. Legal & General Group Plc now owns 941,407 shares of the technology company's stock valued at $8,369,000 after acquiring an additional 5,541 shares in the last quarter. 75.77% of the stock is owned by institutional investors.

Stratasys Stock Performance

Shares of Stratasys stock opened at $10.87 on Friday. Stratasys, Ltd. has a one year low of $6.05 and a one year high of $12.88. The stock's fifty day moving average is $10.89 and its 200 day moving average is $10.36. The stock has a market cap of $923.08 million, a P/E ratio of -7.25 and a beta of 1.53.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Stratasys had a negative return on equity of 1.86% and a negative net margin of 19.02%. The company had revenue of $136.05 million for the quarter, compared to analysts' expectations of $134.11 million. During the same period last year, the firm earned ($0.02) EPS. Stratasys's revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts predict that Stratasys, Ltd. will post -0.4 EPS for the current year.

Analyst Ratings Changes

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

Stratasys Profile

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.

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