Renaissance Technologies LLC Sells 90,632 Shares of Stratasys, Ltd. $SSYS

Renaissance Technologies LLC cut its holdings in Stratasys, Ltd. (NASDAQ:SSYS) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,400 shares of the technology company’s stock after selling 90,632 shares during the period. Renaissance Technologies LLC’s holdings in Stratasys were worth $2,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System bought a new stake in shares of Stratasys during the first quarter valued at approximately $3,905,000. Monaco Asset Management SAM bought a new position in shares of Stratasys during the fourth quarter worth $998,000. UBS Group AG grew its stake in Stratasys by 87.4% during the fourth quarter. UBS Group AG now owns 632,518 shares of the technology company’s stock valued at $5,490,000 after acquiring an additional 294,908 shares in the last quarter. Legal & General Group Plc grew its stake in Stratasys by 11.6% during the fourth quarter. Legal & General Group Plc now owns 1,032,041 shares of the technology company’s stock valued at $8,958,000 after acquiring an additional 107,472 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in Stratasys in the 4th quarter valued at $976,000. 75.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on SSYS. Zacks Research raised shares of Stratasys from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings raised Stratasys from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.33.

Stratasys Trading Down 0.1%

SSYS opened at $8.91 on Monday. The stock has a 50-day moving average of $8.57 and a 200 day moving average of $9.00. Stratasys, Ltd. has a 12 month low of $7.34 and a 12 month high of $12.81. The firm has a market cap of $767.77 million, a P/E ratio of -6.60 and a beta of 1.94.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Stratasys had a negative net margin of 21.00% and a negative return on equity of 1.73%. The business had revenue of $132.70 million for the quarter, compared to the consensus estimate of $131.82 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts forecast that Stratasys, Ltd. will post -0.16 earnings per share for the current fiscal year.

Stratasys Company Profile

Stratasys, Inc is a global leader in additive manufacturing and 3D printing solutions, offering a comprehensive portfolio of technologies and materials for rapid prototyping and production. Founded in 1989 by Scott and Lisa Crump, the company pioneered fused deposition modeling (FDM) and has since expanded its capabilities to include PolyJet, stereolithography and metal deposition systems. Stratasys serves a broad array of customers, from small design studios to major industrial manufacturers, enabling accelerated product development and on-demand part production.

The company’s product line encompasses both desktop and industrial-grade 3D printers, dedicated support materials and proprietary software designed to streamline the digital manufacturing workflow.