Point72 Asia Singapore Pte. Ltd. Sells 2,120 Shares of Proto Labs, Inc. (NYSE:PRLB)

Point72 Asia Singapore Pte. Ltd. cut its holdings in Proto Labs, Inc. (NYSE:PRLB) by 42.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,922 shares of the industrial products company’s stock after selling 2,120 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Proto Labs were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PRLB. Disciplined Growth Investors Inc. MN grew its stake in shares of Proto Labs by 1.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock worth $60,123,000 after purchasing an additional 36,510 shares during the last quarter. Meros Investment Management LP increased its position in Proto Labs by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 139,816 shares of the industrial products company’s stock valued at $4,319,000 after purchasing an additional 2,252 shares during the period. Deerfield Management Company L.P. Series C bought a new position in Proto Labs during the 2nd quarter worth approximately $591,000. AQR Capital Management LLC raised its holdings in Proto Labs by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 35,489 shares of the industrial products company’s stock worth $1,096,000 after purchasing an additional 15,230 shares during the last quarter. Finally, Caxton Associates LP lifted its position in shares of Proto Labs by 53.6% in the 2nd quarter. Caxton Associates LP now owns 13,809 shares of the industrial products company’s stock worth $427,000 after purchasing an additional 4,816 shares during the period. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on PRLB. StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price target on shares of Proto Labs in a report on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report 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’s stock. Based on data from MarketBeat, Proto Labs currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Proto Labs Stock Up 1.6 %

NYSE:PRLB opened at $28.70 on Friday. Proto Labs, Inc. has a twelve month low of $23.01 and a twelve month high of $41.87. The company has a fifty day moving average of $29.69 and a 200-day moving average of $31.24. The firm has a market capitalization of $726.57 million, a P/E ratio of 37.27 and a beta of 1.31.

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

Insider Activity at Proto Labs

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the acquisition, the chief executive officer now owns 80,878 shares in the company, valued at approximately $2,319,581.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

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.