Formula Growth Ltd. Increases Stake in Stratasys Ltd. (NASDAQ:SSYS)

Formula Growth Ltd. raised its position in shares of Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 760,000 shares of the technology company's stock after purchasing an additional 280,000 shares during the quarter. Stratasys comprises 2.3% of Formula Growth Ltd.'s portfolio, making the stock its 4th largest holding. Formula Growth Ltd. owned about 1.06% of Stratasys worth $6,756,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Stratasys during the fourth quarter worth $68,000. Teton Advisors Inc. acquired a new stake in shares of Stratasys in the 4th quarter valued at approximately $89,000. SBI Securities Co. Ltd. acquired a new stake in shares of Stratasys during the fourth quarter worth $90,000. Stifel Financial Corp grew its stake in shares of Stratasys by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company's stock worth $193,000 after acquiring an additional 4,600 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Stratasys during the 4th quarter worth approximately $331,000. Institutional investors and hedge funds own 75.77% of the company's stock.

Wall Street Analyst Weigh In

SSYS has been the subject of several research reports. Cantor Fitzgerald raised their price target on Stratasys from $12.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. StockNews.com lowered 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 price target on shares of Stratasys from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Stratasys currently has a consensus rating of "Moderate Buy" and an average price target of $12.20.

Stratasys Trading Up 3.7 %

SSYS stock traded up $0.34 during mid-day trading on Thursday, hitting $9.48. The stock had a trading volume of 131,142 shares, compared to its average volume of 582,765. The firm has a fifty day simple moving average of $9.96 and a 200 day simple moving average of $9.44. Stratasys Ltd. has a 52 week low of $6.05 and a 52 week high of $12.88. The firm has a market capitalization of $679.51 million, a P/E ratio of -7.16 and a beta of 1.44.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $150.40 million during the quarter, compared to the consensus estimate of $151.01 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 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, equities analysts expect that Stratasys Ltd. will post -0.4 earnings per share for the current fiscal year.

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.