Stratasys Ltd. (NASDAQ:SSYS) Shares Sold by Harvest Management LLC

Harvest Management LLC lowered its holdings in Stratasys Ltd. (NASDAQ:SSYS) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,600 shares of the technology company’s stock after selling 7,000 shares during the period. Harvest Management LLC owned approximately 0.07% of Stratasys worth $429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. RPG Investment Advisory LLC lifted its holdings in Stratasys by 29.6% in the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after purchasing an additional 150,891 shares during the period. Rubric Capital Management LP grew its holdings in Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after purchasing an additional 918,703 shares during the last quarter. ARK Investment Management LLC increased its holdings in Stratasys by 22.2% in the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after buying an additional 116,912 shares during the period. State of Michigan Retirement System increased its position in shares of Stratasys by 17.2% during the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock worth $6,859,000 after purchasing an additional 120,000 shares in the last quarter. Finally, Clearline Capital LP bought a new stake in Stratasys during the 2nd quarter worth about $9,301,000. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SSYS. Lake Street Capital dropped their target price on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Cantor Fitzgerald dropped their target price on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Needham & Company LLC upped their price objective on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Loop Capital reduced their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Craig Hallum increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Price Performance

Stratasys stock opened at $9.56 on Tuesday. The firm has a 50-day moving average of $8.13 and a two-hundred day moving average of $8.17. Stratasys Ltd. has a 1 year low of $6.05 and a 1 year high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company’s revenue was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Equities analysts forecast that Stratasys Ltd. will post -0.41 EPS for the current fiscal year.

Stratasys Company 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.