Acadian Asset Management LLC Sells 27,140 Shares of Proto Labs, Inc. (NYSE:PRLB)

Acadian Asset Management LLC decreased its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 62.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,562 shares of the industrial products company’s stock after selling 27,140 shares during the period. Acadian Asset Management LLC owned about 0.07% of Proto Labs worth $510,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its holdings in shares of Proto Labs by 17.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 118,094 shares of the industrial products company’s stock worth $4,222,000 after purchasing an additional 17,720 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Proto Labs by 89.3% during the first quarter. Jupiter Asset Management Ltd. now owns 147,011 shares of the industrial products company’s stock worth $5,256,000 after buying an additional 69,347 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Proto Labs by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock worth $106,541,000 after buying an additional 57,894 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Proto Labs in the fourth quarter valued at approximately $202,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Proto Labs by 0.9% in the 1st quarter. Nordea Investment Management AB now owns 170,015 shares of the industrial products company’s stock worth $6,115,000 after acquiring an additional 1,551 shares in the last quarter. 84.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor purchased 3,480 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $28.68 per share, with a total value of $99,806.40. Following the purchase, the chief executive officer now directly owns 80,878 shares in the company, valued at approximately $2,319,581.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Proto Labs Stock Performance

NYSE PRLB opened at $29.69 on Thursday. The stock has a market capitalization of $746.70 million, a P/E ratio of 38.56 and a beta of 1.32. Proto Labs, Inc. has a 52 week low of $23.01 and a 52 week high of $41.87. The stock has a fifty day moving average of $30.74 and a 200-day moving average of $31.80.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $126.25 million. Proto Labs had a return on equity of 3.60% and a net margin of 4.86%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) earnings per share. Equities research analysts forecast that Proto Labs, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on PRLB. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $44.00 price target on shares of Proto Labs in a report on Tuesday, July 30th. StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Benchmark reissued a “buy” rating and set a $45.00 price objective on shares of Proto Labs in a report on Wednesday, May 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Proto Labs currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Proto Labs Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.