Y Intercept Hong Kong Ltd Decreases Stake in Proto Labs, Inc. $PRLB

Y Intercept Hong Kong Ltd lowered its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 36.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,616 shares of the industrial products company’s stock after selling 15,566 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Proto Labs were worth $1,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in Proto Labs by 7,380.0% during the first quarter. NewEdge Advisors LLC now owns 748 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 738 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Proto Labs by 363.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,806 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 2,200 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Proto Labs by 477.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,072 shares of the industrial products company’s stock valued at $123,000 after buying an additional 2,540 shares during the period. CWM LLC increased its stake in shares of Proto Labs by 80.8% during the third quarter. CWM LLC now owns 2,589 shares of the industrial products company’s stock worth $130,000 after buying an additional 1,157 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Proto Labs by 183.3% in the second quarter. Canada Pension Plan Investment Board now owns 3,400 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 2,200 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Price Performance

Shares of NYSE:PRLB opened at $52.70 on Friday. Proto Labs, Inc. has a 12 month low of $29.58 and a 12 month high of $56.60. The firm has a market capitalization of $1.25 billion, a P/E ratio of 86.39 and a beta of 1.16. The company’s fifty day moving average price is $52.54 and its 200 day moving average price is $49.79.

Proto Labs (NYSE:PRLB) last posted its earnings results on Friday, October 31st. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. Proto Labs had a return on equity of 2.23% and a net margin of 2.86%.The business had revenue of $135.37 million for the quarter, compared to analysts’ expectations of $133.83 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Proto Labs, Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRLB shares. Zacks Research downgraded shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Benchmark lifted their price target on Proto Labs from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Proto Labs in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.33.

Insider Transactions at Proto Labs

In other Proto Labs news, insider Michael R. Kenison sold 3,048 shares of Proto Labs stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.17, for a total transaction of $152,918.16. Following the transaction, the insider owned 28,898 shares of the company’s stock, valued at $1,449,812.66. The trade was a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

About Proto Labs

Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.

Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.