Connor Clark & Lunn Investment Management Ltd. Sells 31,657 Shares of Stratasys, Ltd. (NASDAQ:SSYS)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Stratasys, Ltd. (NASDAQ:SSYS - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 about 0.43% of Stratasys worth $3,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SSYS. Teton Advisors Inc. purchased a new position in Stratasys in the 4th quarter worth about $89,000. Harbor Capital Advisors Inc. acquired a new stake in Stratasys during the 1st quarter worth about $105,000. Hsbc Holdings PLC raised its holdings in 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 buying an additional 1,564 shares during the period. Graham Capital Management L.P. acquired a new stake in Stratasys during the 4th quarter worth about $166,000. Finally, Bayesian Capital Management LP acquired a new stake in Stratasys during the 4th quarter worth about $217,000. 75.77% of the stock is currently owned by institutional investors.

Stratasys Trading Up 2.0%

NASDAQ:SSYS traded up $0.18 on Friday, hitting $9.40. 901,586 shares of the company's stock traded hands, compared to its average volume of 668,725. Stratasys, Ltd. has a 1 year low of $6.05 and a 1 year high of $12.88. The firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $10.51. The company has a market cap of $798.29 million, a PE ratio of -7.01 and a beta of 1.57.

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

Analysts Set New Price Targets

SSYS has been the topic of several recent analyst reports. Wall Street Zen upgraded Stratasys from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Needham & Company LLC cut their price objective on Stratasys from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Stratasys presently has an average rating of "Moderate Buy" and a consensus price target 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.