Sit Investment Associates Inc. decreased its position in shares of Proto Labs Inc. (NYSE:PRLB) by 24.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,750 shares of the company’s stock after selling 3,450 shares during the period. Sit Investment Associates Inc.’s holdings in Proto Labs were worth $619,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PRLB. Texas Permanent School Fund bought a new stake in Proto Labs during the first quarter worth $1,361,000. TIAA CREF Investment Management LLC increased its position in shares of Proto Labs by 13.2% in the first quarter. TIAA CREF Investment Management LLC now owns 84,138 shares of the company’s stock worth $6,486,000 after buying an additional 9,794 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Proto Labs during the first quarter worth approximately $4,308,000. Franklin Resources Inc. increased its position in shares of Proto Labs by 0.9% in the first quarter. Franklin Resources Inc. now owns 215,881 shares of the company’s stock worth $16,642,000 after buying an additional 1,984 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Proto Labs by 120.2% in the first quarter. BlackRock Inc. now owns 1,594 shares of the company’s stock worth $123,000 after buying an additional 870 shares in the last quarter.
Shares of Proto Labs Inc. (NYSE:PRLB) traded down 0.50% during trading on Thursday, hitting $56.17. The stock had a trading volume of 163,410 shares. Proto Labs Inc. has a 12 month low of $50.50 and a 12 month high of $82.06. The company has a market cap of $1.48 billion, a P/E ratio of 32.49 and a beta of 0.49. The stock has a 50-day moving average price of $56.81 and a 200 day moving average price of $62.32.
Proto Labs (NYSE:PRLB) last released its earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The company had revenue of $75 million for the quarter, compared to the consensus estimate of $77.20 million. Proto Labs had a net margin of 15.82% and a return on equity of 13.76%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Equities analysts expect that Proto Labs Inc. will post $1.83 EPS for the current fiscal year.
A number of research firms have issued reports on PRLB. Zacks Investment Research downgraded Proto Labs from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. TheStreet downgraded Proto Labs from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price objective on shares of Proto Labs in a report on Friday, September 2nd. Finally, Dougherty & Co downgraded Proto Labs from a “buy” rating to a “sell” rating in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $70.40.
In other Proto Labs news, insider Arthur R. Baker III acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was bought at an average price of $55.00 per share, for a total transaction of $165,000.00. Following the acquisition, the insider now directly owns 7,105 shares in the company, valued at $390,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.48% of the company’s stock.
About Proto Labs
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.