State of Alaska Department of Revenue Sells 513 Shares of Proto Labs, Inc. (NYSE:PRLB)

State of Alaska Department of Revenue trimmed its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,351 shares of the industrial products company’s stock after selling 513 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Proto Labs worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Proto Labs by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock worth $106,541,000 after acquiring an additional 57,894 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Proto Labs by 1.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock worth $60,123,000 after purchasing an additional 36,510 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Proto Labs by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock worth $34,305,000 after purchasing an additional 130,670 shares during the period. Renaissance Technologies LLC boosted its stake in Proto Labs by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock worth $13,463,000 after purchasing an additional 106,423 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Proto Labs by 22.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock valued at $8,807,000 after buying an additional 55,932 shares in the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Proto Labs

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the acquisition, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Friday, November 1st. Craig Hallum lifted their price objective on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 target price on shares of Proto Labs in a research report on Monday, November 4th. Finally, StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Trading Up 0.9 %

NYSE PRLB opened at $38.97 on Friday. The firm has a market cap of $980.02 million, a PE ratio of 41.46 and a beta of 1.32. Proto Labs, Inc. has a 1-year low of $25.75 and a 1-year high of $41.87. The stock has a 50-day moving average of $29.67 and a 200-day moving average of $30.65.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. The company had revenue of $125.60 million for the quarter, compared to the consensus estimate of $121.38 million. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, equities research analysts forecast that Proto Labs, Inc. will post 0.7 earnings per share for the current fiscal year.

Proto Labs Company 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.