Dynamic Technology Lab Private Ltd acquired a new stake in Proto Labs Inc. (NYSE:PRLB) during the second quarter, Holdings Channel reports. The fund acquired 5,953 shares of the company’s stock, valued at approximately $342,000.
Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Proto Labs during the fourth quarter valued at about $11,262,000. Texas Permanent School Fund purchased a new stake in Proto Labs during the first quarter valued at about $1,361,000. Motley Fool Asset Management LLC purchased a new stake in Proto Labs during the first quarter valued at about $3,084,000. TIAA CREF Investment Management LLC raised its stake in Proto Labs by 13.2% in the first quarter. TIAA CREF Investment Management LLC now owns 84,138 shares of the company’s stock valued at $6,486,000 after buying an additional 9,794 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Proto Labs during the first quarter valued at about $4,308,000.
Proto Labs Inc. (NYSE:PRLB) opened at 56.95 on Tuesday. Proto Labs Inc. has a 52-week low of $50.50 and a 52-week high of $82.06. The stock’s 50 day moving average price is $56.95 and its 200-day moving average price is $63.64. The company has a market capitalization of $1.50 billion, a P/E ratio of 32.94 and a beta of 0.51.
Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $75 million for the quarter, compared to analysts’ expectations of $77.20 million. Proto Labs had a return on equity of 13.76% and a net margin of 15.82%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Analysts predict that Proto Labs Inc. will post $1.83 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Pacific Crest reaffirmed an “equal weight” rating on shares of Proto Labs in a report on Sunday, June 5th. FBR & Co reaffirmed a “buy” rating on shares of Proto Labs in a report on Monday, June 6th. TheStreet lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $65.00 price objective on shares of Proto Labs in a report on Friday, September 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Proto Labs currently has a consensus rating of “Hold” and a consensus target price of $70.40.
In other news, insider Arthur R. Baker III purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were purchased at an average price of $55.00 per share, for a total transaction of $165,000.00. Following the purchase, the insider now directly owns 7,105 shares of the company’s stock, valued at approximately $390,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.48% of the company’s stock.
Proto Labs Company Profile
Proto Labs, Inc is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers.
Want to see what other hedge funds are holding PRLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Proto Labs Inc. (NYSE:PRLB).
Receive News & Ratings for Proto Labs Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proto Labs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.