Sumitomo Mitsui Trust Holdings Inc. Cuts Stake in Stratasys Ltd. (NASDAQ:SSYS)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Stratasys Ltd. (NASDAQ:SSYS) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 562,461 shares of the technology company’s stock after selling 55,689 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.82% of Stratasys worth $8,032,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SSYS. CWM LLC increased its stake in shares of Stratasys by 2,633.3% during the third quarter. CWM LLC now owns 3,280 shares of the technology company’s stock valued at $45,000 after buying an additional 3,160 shares during the period. Quantbot Technologies LP purchased a new position in Stratasys in the third quarter valued at about $158,000. Formidable Asset Management LLC grew its stake in Stratasys by 14.7% in the third quarter. Formidable Asset Management LLC now owns 17,547 shares of the technology company’s stock valued at $239,000 after purchasing an additional 2,250 shares during the last quarter. Values First Advisors Inc. grew its stake in Stratasys by 11.5% in the third quarter. Values First Advisors Inc. now owns 18,824 shares of the technology company’s stock valued at $256,000 after purchasing an additional 1,936 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in Stratasys in the third quarter valued at about $271,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Stratasys Price Performance

Shares of NASDAQ SSYS opened at $9.89 on Wednesday. The business has a 50-day simple moving average of $11.65 and a two-hundred day simple moving average of $12.05. Stratasys Ltd. has a fifty-two week low of $9.43 and a fifty-two week high of $21.72.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $156.34 million during the quarter, compared to the consensus estimate of $153.96 million. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, equities research analysts forecast that Stratasys Ltd. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SSYS has been the topic of several analyst reports. StockNews.com initiated coverage on Stratasys in a research note on Friday, April 19th. They issued a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Stratasys in a research note on Tuesday, December 26th. Finally, Cantor Fitzgerald initiated coverage on Stratasys in a research note on Tuesday, February 13th. They issued an “overweight” rating and a $24.00 target price on the stock.

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.