Tiverton Asset Management LLC Has $7.60 Million Stake in Proto Labs, Inc. (PRLB)
Tiverton Asset Management LLC trimmed its stake in Proto Labs, Inc. (NYSE:PRLB) by 43.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,990 shares of the industrial products company’s stock after selling 87,167 shares during the quarter. Tiverton Asset Management LLC owned approximately 0.42% of Proto Labs worth $7,599,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRLB. Motley Fool Wealth Management LLC boosted its position in shares of Proto Labs by 5.1% in the first quarter. Motley Fool Wealth Management LLC now owns 46,245 shares of the industrial products company’s stock worth $2,363,000 after buying an additional 2,257 shares during the period. Trexquant Investment LP acquired a new stake in Proto Labs during the 1st quarter worth $314,000. BlackRock Inc. grew its holdings in Proto Labs by 146,773.4% during the 1st quarter. BlackRock Inc. now owns 2,905,155 shares of the industrial products company’s stock worth $148,453,000 after acquiring an additional 2,903,177 shares during the period. Arizona State Retirement System grew its holdings in Proto Labs by 1.6% during the 1st quarter. Arizona State Retirement System now owns 12,700 shares of the industrial products company’s stock worth $649,000 after acquiring an additional 200 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Proto Labs during the 1st quarter worth $8,416,000.
Proto Labs, Inc. (NYSE PRLB) traded down 0.47% during midday trading on Friday, reaching $73.95. 49,933 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 42.99 and a beta of 0.99. Proto Labs, Inc. has a 52 week low of $43.10 and a 52 week high of $75.80. The firm’s 50 day moving average is $72.42 and its 200 day moving average is $63.04.
Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. Proto Labs had a return on equity of 11.75% and a net margin of 14.59%. The firm had revenue of $82.04 million for the quarter, compared to the consensus estimate of $80.49 million. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Proto Labs, Inc. will post $2.06 earnings per share for the current year.
In related news, VP Robert Bodor sold 741 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $73.84, for a total value of $54,715.44. Following the completion of the transaction, the vice president now directly owns 17,319 shares of the company’s stock, valued at approximately $1,278,834.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.78% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Dougherty & Co raised shares of Proto Labs from a “sell” rating to a “neutral” rating in a report on Tuesday, June 27th. Zacks Investment Research cut shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $67.00 price objective on shares of Proto Labs in a report on Friday, July 28th. Four investment analysts have rated the stock with a hold rating, Proto Labs has an average rating of “Hold” and an average price target of $59.33.
Proto Labs Company 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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