Clearline Capital LP cut its position in Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,248,320 shares of the technology company's stock after selling 118,906 shares during the period. Stratasys accounts for about 1.5% of Clearline Capital LP's investment portfolio, making the stock its 21st biggest position. Clearline Capital LP owned 1.75% of Stratasys worth $11,098,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in shares of Stratasys by 0.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,399,898 shares of the technology company's stock worth $12,445,000 after acquiring an additional 9,522 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Stratasys by 53.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company's stock worth $10,255,000 after acquiring an additional 400,000 shares during the period. RPG Investment Advisory LLC raised its holdings in shares of Stratasys by 64.6% during the fourth quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company's stock worth $9,658,000 after acquiring an additional 426,341 shares during the period. Legal & General Group Plc grew its position in Stratasys by 0.6% in the fourth quarter. Legal & General Group Plc now owns 941,407 shares of the technology company's stock valued at $8,369,000 after purchasing an additional 5,541 shares in the last quarter. Finally, Formula Growth Ltd. grew its position in Stratasys by 58.3% in the fourth quarter. Formula Growth Ltd. now owns 760,000 shares of the technology company's stock valued at $6,756,000 after purchasing an additional 280,000 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Stratasys from $12.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Stratasys from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC lifted their target price on shares of Stratasys from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.20.
Read Our Latest Research Report on Stratasys
Stratasys Price Performance
Stratasys stock traded up $0.03 during midday trading on Monday, hitting $11.03. The company's stock had a trading volume of 601,738 shares, compared to its average volume of 592,579. Stratasys Ltd. has a 1-year low of $6.05 and a 1-year high of $12.88. The company has a 50-day moving average price of $9.66 and a two-hundred day moving average price of $9.67. The company has a market cap of $791.03 million, a price-to-earnings ratio of -8.36 and a beta of 1.50.
Stratasys (NASDAQ:SSYS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The business had revenue of $136.05 million during the quarter, compared to analysts' expectations of $134.11 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The business's revenue was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Stratasys Ltd. will post -0.4 EPS for the current year.
Stratasys Company Profile
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Free Report)
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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