Algert Global LLC Sells 2,727 Shares of Proto Labs, Inc. (NYSE:PRLB)

Algert Global LLC trimmed its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,137 shares of the industrial products company’s stock after selling 2,727 shares during the period. Algert Global LLC owned about 0.25% of Proto Labs worth $1,766,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. KBC Group NV boosted its position in Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 631 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Proto Labs by 9.2% in the 2nd quarter. Diversified Trust Co now owns 8,431 shares of the industrial products company’s stock valued at $260,000 after buying an additional 707 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Proto Labs by 1.9% in the second quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock valued at $1,326,000 after buying an additional 812 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Proto Labs during the second quarter worth $37,000. Finally, Innealta Capital LLC bought a new stake in Proto Labs during the second quarter worth $40,000. Institutional investors own 84.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRLB shares. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a research report on Monday, November 4th. Craig Hallum upped their price objective on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Insiders Place Their Bets

In other Proto Labs news, CEO Robert Bodor bought 3,480 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $28.68 per share, with a total value of $99,806.40. Following the completion of the acquisition, the chief executive officer now owns 80,878 shares of the company’s stock, valued at $2,319,581.04. This trade represents a 4.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Proto Labs Stock Performance

Shares of PRLB opened at $40.82 on Thursday. The firm has a market cap of $1.00 billion, a P/E ratio of 43.11 and a beta of 1.32. Proto Labs, Inc. has a 52 week low of $25.75 and a 52 week high of $42.66. The firm’s 50-day simple moving average is $32.07 and its 200 day simple moving average is $31.30.

Proto Labs (NYSE:PRLB) last announced its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. The company had revenue of $125.60 million for the quarter, compared to analyst estimates of $121.38 million. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. As a group, equities analysts forecast that Proto Labs, Inc. will post 0.84 earnings per share for the current year.

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.