Connor Clark & Lunn Investment Management Ltd. Sells 31,657 Shares of Stratasys, Ltd. $SSYS

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 308,344 shares of the technology company's stock after selling 31,657 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.43% of Stratasys worth $3,019,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Phoenix Financial Ltd. lifted its stake in Stratasys by 0.4% in the 1st quarter. Phoenix Financial Ltd. now owns 3,613,906 shares of the technology company's stock valued at $35,381,000 after acquiring an additional 12,900 shares in the last quarter. Royce & Associates LP lifted its stake in Stratasys by 236.6% in the 1st quarter. Royce & Associates LP now owns 555,420 shares of the technology company's stock valued at $5,438,000 after acquiring an additional 390,420 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Stratasys by 84.7% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,130,983 shares of the technology company's stock valued at $20,862,000 after acquiring an additional 977,403 shares in the last quarter. Brown Advisory Inc. bought a new stake in Stratasys in the 1st quarter valued at approximately $369,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Stratasys in the 1st quarter valued at approximately $1,892,000. 75.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SSYS. Needham & Company LLC decreased their price target on Stratasys from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Wall Street Zen downgraded Stratasys from a "buy" rating to a "hold" rating in a research note on Sunday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Stratasys presently has an average rating of "Moderate Buy" and a consensus target price of $12.20.

Stratasys Price Performance

Shares of NASDAQ SSYS traded down $0.03 during mid-day trading on Monday, hitting $9.37. 291,614 shares of the stock traded hands, compared to its average volume of 542,658. Stratasys, Ltd. has a twelve month low of $6.05 and a twelve month high of $12.88. The company has a market cap of $795.70 million, a PE ratio of -6.99 and a beta of 1.57. The firm has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $10.52.

Stratasys (NASDAQ:SSYS - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The technology company reported $0.03 EPS for the quarter, meeting analysts' consensus estimates of $0.03. The firm had revenue of $138.09 million for the quarter, compared to analyst estimates of $137.15 million. Stratasys had a negative return on equity of 1.06% and a negative net margin of 17.42%. The business's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, equities research analysts anticipate that Stratasys, Ltd. will post -0.4 earnings per share for the current fiscal 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.