Douglas Lane & Associates LLC Sells 46,370 Shares of Stratasys Ltd. (NASDAQ:SSYS)

Douglas Lane & Associates LLC cut its holdings in Stratasys Ltd. (NASDAQ:SSYS) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,300,360 shares of the technology company’s stock after selling 46,370 shares during the period. Douglas Lane & Associates LLC owned about 1.87% of Stratasys worth $10,910,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Stratasys during the 4th quarter valued at about $6,706,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Stratasys by 10.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,028,580 shares of the technology company’s stock worth $14,688,000 after acquiring an additional 100,000 shares in the last quarter. New York State Common Retirement Fund grew its stake in Stratasys by 49.0% in the 4th quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after acquiring an additional 10,747 shares in the last quarter. Rubric Capital Management LP grew its stake in Stratasys by 366.7% in the 4th quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock worth $60,690,000 after acquiring an additional 3,339,367 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Stratasys by 38.3% in the 4th quarter. Gabelli Funds LLC now owns 165,947 shares of the technology company’s stock worth $2,370,000 after acquiring an additional 45,957 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors.

Stratasys Price Performance

Shares of SSYS remained flat at $7.56 during mid-day trading on Tuesday. 369,156 shares of the stock traded hands, compared to its average volume of 461,990. The company has a 50-day moving average price of $8.69 and a 200-day moving average price of $10.46. Stratasys Ltd. has a 52-week low of $7.39 and a 52-week high of $16.84. The company has a market cap of $526.63 million, a price-to-earnings ratio of -4.16 and a beta of 1.21.

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

Wall Street Analysts Forecast Growth

SSYS has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of Stratasys in a research note on Thursday, May 30th. Craig Hallum dropped their target price on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. StockNews.com initiated coverage on shares of Stratasys in a research note on Thursday, August 1st. They issued a “buy” rating on the stock. Finally, Needham & Company LLC dropped their target price on shares of Stratasys from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th.

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.