Van ECK Associates Corp Lowers Stake in Stratasys Ltd. (NASDAQ:SSYS)

Van ECK Associates Corp reduced its stake in shares of Stratasys Ltd. (NASDAQ:SSYS) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,810 shares of the technology company’s stock after selling 2,003 shares during the quarter. Van ECK Associates Corp’s holdings in Stratasys were worth $158,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Stratasys by 1.4% during the third quarter. State Street Corp now owns 105,578 shares of the technology company’s stock valued at $877,000 after purchasing an additional 1,500 shares during the period. Barclays PLC boosted its stake in shares of Stratasys by 1.9% during the third quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock valued at $669,000 after purchasing an additional 1,525 shares during the period. Tidal Investments LLC boosted its stake in shares of Stratasys by 4.6% during the third quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock valued at $467,000 after purchasing an additional 2,483 shares during the period. Pinnacle Associates Ltd. boosted its stake in shares of Stratasys by 0.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after purchasing an additional 3,791 shares during the period. Finally, ARK Investment Management LLC lifted its stake in Stratasys by 0.7% in the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after acquiring an additional 4,589 shares during the period. 75.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSYS. Craig Hallum upped their price objective on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of Stratasys in a research note on Monday, February 3rd. StockNews.com raised shares of Stratasys from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Stratasys in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.40.

Stratasys Stock Performance

SSYS stock opened at $11.19 on Monday. The firm has a market cap of $798.72 million, a price-to-earnings ratio of -8.48 and a beta of 1.31. The firm has a 50-day simple moving average of $10.07 and a two-hundred day simple moving average of $8.71. Stratasys Ltd. has a one year low of $6.05 and a one year high of $13.12.

Stratasys Company 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.