16,653 Shares in Proto Labs, Inc. (NYSE:PRLB) Bought by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in Proto Labs, Inc. (NYSE:PRLB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 16,653 shares of the industrial products company’s stock, valued at approximately $514,000. Cornercap Investment Counsel Inc. owned approximately 0.07% of Proto Labs at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Proto Labs in the second quarter valued at approximately $40,000. Headlands Technologies LLC increased its stake in Proto Labs by 224.0% in the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,295 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Proto Labs during the 1st quarter worth about $110,000. Shell Asset Management Co. acquired a new position in shares of Proto Labs during the 1st quarter worth about $132,000. Finally, Tradition Wealth Management LLC grew its holdings in shares of Proto Labs by 7.8% in the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 305 shares in the last quarter. 84.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Proto Labs

In other news, CEO Robert Bodor bought 3,480 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the purchase, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PRLB shares. StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and set a $45.00 price target on shares of Proto Labs in a research report on Wednesday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $44.00 price objective on shares of Proto Labs in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Proto Labs Trading Up 1.2 %

PRLB opened at $29.57 on Friday. The stock’s fifty day simple moving average is $30.79 and its 200 day simple moving average is $31.93. Proto Labs, Inc. has a 1-year low of $23.01 and a 1-year high of $41.87. The stock has a market cap of $743.69 million, a PE ratio of 38.40 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The company had revenue of $125.60 million for the quarter, compared to analyst estimates of $126.25 million. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. Equities analysts forecast that Proto Labs, Inc. will post 0.7 earnings per share for the current year.

Proto Labs Profile

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.