Capital World Investors purchased a new position in shares of Stratasys, Ltd. (NASDAQ:SSYS – Free Report) during the third quarter, HoldingsChannel reports. The firm purchased 1,357,460 shares of the technology company’s stock, valued at approximately $15,204,000.
Other large investors have also recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position in Stratasys by 18.3% in the second quarter. Rubric Capital Management LP now owns 7,803,097 shares of the technology company’s stock valued at $89,502,000 after purchasing an additional 1,205,764 shares during the period. Magnetar Financial LLC acquired a new position in Stratasys during the 2nd quarter worth approximately $3,234,000. Hussman Strategic Advisors Inc. acquired a new position in Stratasys during the 3rd quarter worth approximately $2,352,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Stratasys during the 2nd quarter worth approximately $1,708,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Stratasys by 75.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 329,872 shares of the technology company’s stock worth $3,784,000 after buying an additional 141,558 shares in the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.
Stratasys Stock Down 1.3%
Shares of NASDAQ:SSYS opened at $8.19 on Friday. The company has a quick ratio of 2.68, a current ratio of 3.57 and a debt-to-equity ratio of 0.02. Stratasys, Ltd. has a 52-week low of $8.00 and a 52-week high of $12.81. The stock’s fifty day simple moving average is $10.35 and its 200-day simple moving average is $10.16. The company has a market capitalization of $705.73 million, a P/E ratio of -6.55 and a beta of 1.68.
Analysts Set New Price Targets
SSYS has been the topic of a number of analyst reports. Needham & Company LLC decreased their price target on Stratasys from $12.00 to $11.50 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Cantor Fitzgerald increased their price objective on Stratasys from $13.00 to $13.50 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Craig Hallum decreased their target price on shares of Stratasys from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. UBS Group reaffirmed an “overweight” rating on shares of Stratasys in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Stratasys in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.
Read Our Latest Report on SSYS
Stratasys 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.
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