Renaissance Technologies LLC reduced its holdings in shares of Stratasys Ltd. (NASDAQ:SSYS – Get Rating) by 22.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 737,932 shares of the technology company’s stock after selling 208,500 shares during the quarter. Renaissance Technologies LLC owned 1.30% of Stratasys worth $10,634,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Verition Fund Management LLC acquired a new position in shares of Stratasys during the third quarter valued at about $191,000. Boothbay Fund Management LLC acquired a new position in shares of Stratasys during the third quarter valued at about $618,000. Nuveen Asset Management LLC grew its holdings in shares of Stratasys by 33.9% during the third quarter. Nuveen Asset Management LLC now owns 1,703,962 shares of the technology company’s stock valued at $24,554,000 after buying an additional 431,708 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Stratasys during the third quarter valued at about $173,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Stratasys during the third quarter valued at about $311,000. 83.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SSYS has been the topic of several analyst reports. Craig Hallum cut their price target on shares of Stratasys to $21.00 in a report on Wednesday, November 16th. Lake Street Capital boosted their price target on shares of Stratasys from $20.00 to $22.00 in a report on Friday. William Blair upgraded shares of Stratasys from an “underperform” rating to a “market perform” rating in a report on Tuesday, November 8th. They noted that the move was a valuation call. StockNews.com upgraded shares of Stratasys from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Stratasys in a report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Stratasys presently has an average rating of “Moderate Buy” and an average price target of $21.00.
Stratasys Stock Up 3.3 %
Stratasys Company Profile
Stratasys Ltd. engages in the provision of applied additive technology solutions for industries including aerospace, automotive, healthcare, consumer products, and education. Its systems include desktop 3D printers for idea and design development, various systems for rapid prototyping and large production systems for direct digital manufacturing.
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