Stratasys Ltd. (NASDAQ:SSYS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Stratasys Ltd. (NASDAQ:SSYS) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 526,969 shares of the technology company’s stock after selling 35,492 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.76% of Stratasys worth $6,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. RIA Advisory Group LLC acquired a new stake in shares of Stratasys during the 4th quarter valued at approximately $33,000. Values First Advisors Inc. increased its position in Stratasys by 4.4% in the fourth quarter. Values First Advisors Inc. now owns 19,652 shares of the technology company’s stock worth $281,000 after buying an additional 828 shares during the period. Formidable Asset Management LLC increased its position in Stratasys by 21.1% in the fourth quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock worth $303,000 after buying an additional 3,705 shares during the period. New York State Common Retirement Fund increased its position in Stratasys by 49.0% in the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after buying an additional 10,747 shares during the period. Finally, Olympiad Research LP acquired a new stake in Stratasys in the fourth quarter worth $486,000. 75.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SSYS shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of Stratasys in a research report on Thursday, May 30th. Needham & Company LLC dropped their target price on Stratasys from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Craig Hallum dropped their target price on Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Finally, StockNews.com assumed coverage on Stratasys in a research note on Monday. They issued a “buy” rating for the company.

Stratasys Stock Performance

NASDAQ:SSYS opened at $8.51 on Thursday. Stratasys Ltd. has a 1 year low of $8.02 and a 1 year high of $21.72. The stock has a market cap of $592.81 million, a price-to-earnings ratio of -4.65 and a beta of 1.21. The business has a fifty day moving average of $8.95 and a 200-day moving average of $11.13.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. The company had revenue of $144.05 million during the quarter, compared to analysts’ expectations of $147.53 million. On average, equities research analysts predict that Stratasys Ltd. will post -0.28 EPS for the current year.

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.