Proto Labs, Inc. (NYSE:PRLB) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its position in shares of Proto Labs, Inc. (NYSE:PRLB) by 5.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 22,899 shares of the industrial products company’s stock after selling 1,258 shares during the period. Texas Permanent School Fund Corp’s holdings in Proto Labs were worth $801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Proto Labs during the 2nd quarter worth $29,000. Quantbot Technologies LP purchased a new stake in Proto Labs during the 2nd quarter worth $30,000. State of Wyoming boosted its position in Proto Labs by 40.0% during the 4th quarter. State of Wyoming now owns 1,505 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 430 shares during the period. Nisa Investment Advisors LLC boosted its position in Proto Labs by 34.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,264 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 580 shares during the period. Finally, UBS Group AG boosted its position in Proto Labs by 9.9% during the 2nd quarter. UBS Group AG now owns 2,378 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 215 shares during the period. 83.97% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Price Performance

NYSE:PRLB opened at $36.51 on Tuesday. The firm has a 50-day moving average of $27.74 and a two-hundred day moving average of $30.57. The stock has a market cap of $941.59 million, a P/E ratio of -9.51 and a beta of 1.13. Proto Labs, Inc. has a 1-year low of $23.01 and a 1-year high of $39.52.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The company had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $123.08 million. Proto Labs had a negative net margin of 21.20% and a negative return on equity of 15.26%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. As a group, equities analysts expect that Proto Labs, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PRLB has been the subject of a number of research reports. Craig Hallum raised shares of Proto Labs from a “sell” rating to a “hold” rating and upped their price target for the stock from $26.00 to $28.00 in a research report on Friday, August 4th. StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Lake Street Capital upped their price target on shares of Proto Labs from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Proto Labs Profile

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.