Texas Permanent School Fund Corp Lowers Stock Holdings in Proto Labs, Inc. (NYSE:PRLB)

Texas Permanent School Fund Corp lowered its position in shares of Proto Labs, Inc. (NYSE:PRLB) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,299 shares of the industrial products company’s stock after selling 3,269 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Proto Labs worth $596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its position in shares of Proto Labs by 17.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 118,094 shares of the industrial products company’s stock valued at $4,222,000 after acquiring an additional 17,720 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position 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 valued at $5,256,000 after purchasing an additional 69,347 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Proto Labs in the 1st quarter worth approximately $1,560,000. Vanguard Group Inc. increased its holdings in shares of Proto Labs by 2.0% in the 1st 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 during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Proto Labs during the 4th quarter valued at $202,000. Institutional investors own 84.54% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert Bodor acquired 3,480 shares of Proto Labs stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $28.68 per share, with a total value of $99,806.40. Following the transaction, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $44.00 target price on shares of Proto Labs in a research report on Tuesday, July 30th. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Monday, August 5th. StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $45.00 target price on shares of Proto Labs in a research note on Wednesday, May 29th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Proto Labs Trading Down 2.4 %

PRLB opened at $29.36 on Friday. Proto Labs, Inc. has a 12 month low of $23.01 and a 12 month high of $41.87. The business’s 50-day moving average price is $30.66 and its 200-day moving average price is $31.70. The company has a market cap of $743.28 million, a P/E ratio of 38.13 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, August 2nd. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $126.25 million. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The business’s revenue was up 2.7% on a year-over-year basis. 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.

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.