Proto Labs, Inc. (NYSE:PRLB) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 3.1% in the second quarter, HoldingsChannel reports. The firm owned 18,571 shares of the industrial products company’s stock after selling 595 shares during the period. Hsbc Holdings PLC’s holdings in Proto Labs were worth $567,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PRLB. Norges Bank purchased a new position in Proto Labs during the fourth quarter worth $11,382,000. Assenagon Asset Management S.A. acquired a new stake in shares of Proto Labs during the second quarter valued at $7,535,000. Dimensional Fund Advisors LP increased its position in Proto Labs by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock worth $34,305,000 after purchasing an additional 130,670 shares in the last quarter. Renaissance Technologies LLC raised its stake in Proto Labs by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock valued at $13,463,000 after purchasing an additional 106,423 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in Proto Labs by 89.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 147,011 shares of the industrial products company’s stock valued at $5,256,000 after purchasing an additional 69,347 shares during the last quarter. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRLB has been the topic of several analyst reports. StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $44.00 target price on shares of Proto Labs in a research report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Proto Labs Price Performance

NYSE PRLB opened at $29.37 on Tuesday. The company has a market cap of $743.53 million, a P/E ratio of 38.14 and a beta of 1.32. Proto Labs, Inc. has a 12 month low of $23.01 and a 12 month high of $41.87. The company has a 50-day moving average of $30.15 and a 200-day moving average of $31.36.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings results 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. The firm had revenue of $125.60 million during 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%. Proto Labs’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. As a group, equities research analysts anticipate that Proto Labs, Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling

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

Proto Labs Company 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.