Sei Investments Co. Lowers Position in Proto Labs, Inc. (NYSE:PRLB)

Sei Investments Co. reduced its position in Proto Labs, Inc. (NYSE:PRLB) by 44.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,975 shares of the industrial products company’s stock after selling 6,336 shares during the period. Sei Investments Co.’s holdings in Proto Labs were worth $246,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in Proto Labs during the 2nd quarter valued at $37,000. Innealta Capital LLC bought a new stake in shares of Proto Labs in the 2nd quarter worth about $40,000. Headlands Technologies LLC boosted its stake in shares of Proto Labs by 224.0% during the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,295 shares during the period. Meeder Asset Management Inc. bought a new position in Proto Labs during the 2nd quarter valued at about $80,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Proto Labs in the 1st quarter worth about $110,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Robert Bodor bought 3,480 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased 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 approximately $2,319,581.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Proto Labs Trading Up 1.9 %

Shares of NYSE PRLB opened at $28.45 on Friday. The company has a 50-day moving average of $29.20 and a 200 day moving average of $31.02. The stock has a market cap of $715.52 million, a PE ratio of 29.64 and a beta of 1.31. Proto Labs, Inc. has a 12-month low of $23.01 and a 12-month high of $41.87.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, beating 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 business had revenue of $125.60 million for the quarter, compared to analyst estimates of $126.25 million. During the same quarter in the prior year, the company posted ($0.01) EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Proto Labs, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $44.00 price target on shares of Proto Labs in a report on Tuesday, July 30th. Finally, StockNews.com lowered Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.