Tower Research Capital LLC TRC boosted its position in shares of Proto Labs Inc. (NYSE:PRLB) by 586.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,657 shares of the company’s stock after buying an additional 2,270 shares during the period. Tower Research Capital LLC TRC’s holdings in Proto Labs were worth $153,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bell State Bank & Trust boosted its position in Proto Labs by 19.6% in the second quarter. Bell State Bank & Trust now owns 4,054 shares of the company’s stock worth $233,000 after buying an additional 665 shares during the last quarter. PineBridge Investments L.P. boosted its position in Proto Labs by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,003 shares of the company’s stock worth $173,000 after buying an additional 121 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Proto Labs during the second quarter worth about $342,000. Vanguard Group Inc. boosted its position in Proto Labs by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,864,255 shares of the company’s stock worth $107,307,000 after buying an additional 51,212 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Proto Labs by 1.2% in the second quarter. Principal Financial Group Inc. now owns 166,574 shares of the company’s stock worth $9,588,000 after buying an additional 1,945 shares during the last quarter.
Shares of Proto Labs Inc. (NYSE:PRLB) opened at 57.83 on Friday. Proto Labs Inc. has a 52-week low of $50.50 and a 52-week high of $82.06. The company has a 50-day moving average price of $56.91 and a 200-day moving average price of $62.74. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 33.45 and a beta of 0.49.
Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, July 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Proto Labs had a net margin of 15.82% and a return on equity of 13.76%. The business had revenue of $75 million for the quarter, compared to analysts’ expectations of $77.20 million. During the same period last year, the firm posted $0.50 earnings per share. Proto Labs’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts anticipate that Proto Labs Inc. will post $1.83 earnings per share for the current year.
A number of equities analysts recently issued reports on PRLB shares. Zacks Investment Research upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, July 13th. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 target price on shares of Proto Labs in a report on Friday, September 2nd. TheStreet cut Proto Labs from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Dougherty & Co cut Proto Labs from a “buy” rating to a “sell” rating in a report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $70.40.
In other Proto Labs news, insider Arthur R. Baker III bought 3,000 shares of Proto Labs stock in a transaction dated Thursday, September 1st. The shares were purchased at an average cost of $55.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the insider now owns 7,105 shares of the company’s stock, valued at $390,775. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.48% of the company’s stock.
Proto Labs Company Profile
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.
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