Daiwa Securities Group Inc. lowered its stake in shares of Proto Labs Inc (NYSE:PRLB) by 43.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,400 shares of the industrial products company’s stock after selling 5,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Proto Labs were worth $659,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Proto Labs by 2.7% during the second quarter. Vanguard Group Inc. now owns 2,176,051 shares of the industrial products company’s stock worth $146,339,000 after buying an additional 56,724 shares during the last quarter. Victory Capital Management Inc. lifted its position in Proto Labs by 15,548.3% in the third quarter. Victory Capital Management Inc. now owns 363,509 shares of the industrial products company’s stock valued at $29,190,000 after purchasing an additional 361,186 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Proto Labs by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 110,883 shares of the industrial products company’s stock valued at $8,904,000 after purchasing an additional 5,779 shares during the period. FMR LLC acquired a new stake in Proto Labs in the second quarter valued at about $861,000. Finally, Voya Investment Management LLC lifted its position in Proto Labs by 18.4% in the second quarter. Voya Investment Management LLC now owns 11,192 shares of the industrial products company’s stock valued at $753,000 after purchasing an additional 1,736 shares during the period.
In other news, Director Rainer Gawlick sold 500 shares of Proto Labs stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $102.75, for a total transaction of $51,375.00. Following the completion of the sale, the director now directly owns 10,925 shares in the company, valued at approximately $1,122,543.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Goodman sold 2,715 shares of Proto Labs stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.79, for a total transaction of $289,934.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,162 shares of company stock valued at $2,304,482. 7.78% of the stock is owned by insiders.
Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. The firm had revenue of $94.18 million during the quarter, compared to the consensus estimate of $92.20 million. Proto Labs had a net margin of 15.03% and a return on equity of 12.22%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. research analysts forecast that Proto Labs Inc will post 2.53 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Proto Labs from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a research report on Thursday. Craig Hallum set a $92.00 price objective on shares of Proto Labs and gave the company a “hold” rating in a research report on Monday, November 27th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $84.00 price objective on shares of Proto Labs in a research report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $85.00.
Proto Labs Profile
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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