Public Sector Pension Investment Board Increases Position in Proto Labs, Inc. (NYSE:PRLB)

Public Sector Pension Investment Board lifted its holdings in Proto Labs, Inc. (NYSE:PRLB) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 55,659 shares of the industrial products company’s stock after purchasing an additional 2,149 shares during the quarter. Public Sector Pension Investment Board’s holdings in Proto Labs were worth $1,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new position in shares of Proto Labs in the 2nd quarter valued at about $37,000. Innealta Capital LLC purchased a new position in shares of Proto Labs in the 2nd quarter valued at about $40,000. Headlands Technologies LLC increased its stake 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 purchasing an additional 1,295 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Proto Labs in the 2nd quarter valued at about $80,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Proto Labs during the 1st quarter worth approximately $110,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor bought 3,480 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the acquisition, the chief executive officer now directly owns 80,878 shares in the company, valued at approximately $2,319,581.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

PRLB has been the subject of several research reports. StockNews.com lowered Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price objective on shares of Proto Labs in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reiterated 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 company. Based on data from MarketBeat, Proto Labs currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Proto Labs Price Performance

Shares of Proto Labs stock opened at $29.37 on Tuesday. The stock has a market cap of $743.53 million, a P/E ratio of 38.14 and a beta of 1.32. The stock’s 50 day simple moving average is $30.15 and its 200-day simple moving average is $31.36. Proto Labs, Inc. has a 1-year low of $23.01 and a 1-year high of $41.87.

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

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.