Quest Partners LLC Buys 18,068 Shares of Proto Labs, Inc. (NYSE:PRLB)

Quest Partners LLC increased its stake in Proto Labs, Inc. (NYSE:PRLB) by 146.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,403 shares of the industrial products company’s stock after purchasing an additional 18,068 shares during the quarter. Quest Partners LLC owned 0.12% of Proto Labs worth $939,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PRLB. Innealta Capital LLC bought a new stake in shares of Proto Labs during the 2nd quarter valued at about $40,000. Panagora Asset Management Inc. increased its holdings in Proto Labs by 4.0% during the second quarter. Panagora Asset Management Inc. now owns 168,033 shares of the industrial products company’s stock valued at $5,191,000 after buying an additional 6,469 shares during the last quarter. Bailard Inc. bought a new position in Proto Labs in the second quarter worth approximately $405,000. Assenagon Asset Management S.A. purchased a new position in shares of Proto Labs during the 2nd quarter worth $7,535,000. Finally, Diversified Trust Co grew its position in shares of Proto Labs by 9.2% during the 2nd quarter. Diversified Trust Co now owns 8,431 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 707 shares during the period. Institutional investors own 84.54% of the company’s stock.

Analyst Upgrades and Downgrades

PRLB has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $44.00 target price on shares of Proto Labs in a report on Tuesday, July 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research report on Monday, August 5th. StockNews.com lowered shares of 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 set a $45.00 price target on shares of Proto Labs in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Proto Labs has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Proto Labs Stock Up 5.1 %

Shares of Proto Labs stock opened at $29.36 on Wednesday. The company has a market capitalization of $738.40 million, a price-to-earnings ratio of 38.13 and a beta of 1.32. The stock’s 50-day simple moving average is $30.87 and its 200-day simple moving average is $32.06. Proto Labs, Inc. has a 52 week low of $23.01 and a 52 week high of $41.87.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Proto Labs had a return on equity of 3.60% and a net margin of 4.86%. The company had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $126.25 million. During the same period in the previous year, the firm earned ($0.01) EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Proto Labs, Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor bought 3,480 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $28.68 per share, with a total value of $99,806.40. Following the completion of the purchase, the chief executive officer now owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

About Proto Labs

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.