Primecap Management Co. CA Decreases Stock Holdings in Stratasys Ltd. (NASDAQ:SSYS)

Primecap Management Co. CA cut its stake in shares of Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,586,399 shares of the technology company's stock after selling 86,900 shares during the period. Primecap Management Co. CA owned approximately 3.62% of Stratasys worth $21,493,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SSYS. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Stratasys by 510.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company's stock worth $563,000 after purchasing an additional 56,699 shares in the last quarter. RPG Investment Advisory LLC lifted its position in shares of Stratasys by 29.6% during 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 in the last quarter. ARK Investment Management LLC grew its holdings in shares of Stratasys by 0.7% in the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company's stock valued at $5,378,000 after purchasing an additional 4,589 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company's stock worth $8,731,000 after buying an additional 3,791 shares in the last quarter. Finally, Clearline Capital LP purchased a new position in Stratasys in the 2nd quarter valued at approximately $9,301,000. 75.77% of the stock is currently owned by institutional investors and hedge funds.

Stratasys Stock Up 0.5 %

NASDAQ:SSYS traded up $0.05 during trading hours on Friday, reaching $9.44. 426,906 shares of the company's stock were exchanged, compared to its average volume of 507,154. Stratasys Ltd. has a 1-year low of $6.05 and a 1-year high of $14.93. The company has a 50-day moving average of $7.83 and a 200 day moving average of $8.19. The firm has a market capitalization of $673.81 million, a price-to-earnings ratio of -7.11 and a beta of 1.21.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The firm had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. Stratasys's quarterly revenue was down 13.6% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. Research analysts forecast that Stratasys Ltd. will post -0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SSYS has been the subject of a number of recent research reports. Cantor Fitzgerald lowered their target price on Stratasys from $23.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, August 30th. Needham & Company LLC boosted their price objective on Stratasys from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Loop Capital reduced their target price on shares of Stratasys from $9.00 to $7.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Craig Hallum boosted their target price on shares of Stratasys from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Lake Street Capital lowered their price target on Stratasys from $15.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $11.40.

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.