Texas Permanent School Fund Corp Sells 3,269 Shares of Proto Labs, Inc. (NYSE:PRLB)

Texas Permanent School Fund Corp lowered its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 14.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,299 shares of the industrial products company’s stock after selling 3,269 shares during the period. Texas Permanent School Fund Corp’s holdings in Proto Labs were worth $596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC increased its holdings in shares of Proto Labs by 146.5% during the second quarter. Quest Partners LLC now owns 30,403 shares of the industrial products company’s stock valued at $939,000 after acquiring an additional 18,068 shares in the last quarter. Innealta Capital LLC purchased a new stake in Proto Labs during the 2nd quarter valued at about $40,000. Panagora Asset Management Inc. increased its stake in Proto Labs by 4.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 168,033 shares of the industrial products company’s stock valued at $5,191,000 after purchasing an additional 6,469 shares in the last quarter. Bailard Inc. purchased a new position in Proto Labs in the second quarter worth about $405,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Proto Labs in the second quarter worth approximately $7,535,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Trading Down 2.4 %

Shares of PRLB stock opened at $29.36 on Friday. Proto Labs, Inc. has a 12-month low of $23.01 and a 12-month high of $41.87. The stock has a market capitalization of $743.28 million, a P/E ratio of 38.13 and a beta of 1.32. The firm’s 50 day moving average is $30.66 and its 200 day moving average is $31.70.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $126.25 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Proto Labs’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Proto Labs, Inc. will post 0.7 earnings per share for the current year.

Insider Activity

In other Proto Labs news, CEO Robert Bodor purchased 3,480 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the purchase, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

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

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.