Acadian Asset Management LLC Has $510,000 Stake in Proto Labs, Inc. (NYSE:PRLB)

Acadian Asset Management LLC reduced its position in shares of Proto Labs, Inc. (NYSE:PRLB) by 62.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,562 shares of the industrial products company’s stock after selling 27,140 shares during the period. Acadian Asset Management LLC’s holdings in Proto Labs were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in Proto Labs in the 2nd quarter valued at $40,000. Headlands Technologies LLC grew its holdings in shares of 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 acquiring an additional 1,295 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Proto Labs in the first quarter valued at about $110,000. Shell Asset Management Co. bought a new stake in Proto Labs during the first quarter worth about $132,000. Finally, Tradition Wealth Management LLC boosted its position in Proto Labs by 7.8% during the fourth quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the last quarter. 84.54% of the stock is currently owned by institutional investors.

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.

Proto Labs Price Performance

Shares of Proto Labs stock opened at $29.69 on Thursday. The business has a fifty day simple moving average of $30.74 and a two-hundred day simple moving average of $31.80. Proto Labs, Inc. has a 1 year low of $23.01 and a 1 year high of $41.87. The company has a market capitalization of $746.70 million, a price-to-earnings ratio of 38.56 and a beta of 1.32.

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

Analyst Ratings Changes

Several research analysts have weighed in on PRLB shares. StockNews.com lowered Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set 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. Finally, Benchmark reissued a “buy” rating and issued a $45.00 price objective on shares of Proto Labs in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.