Y Intercept Hong Kong Ltd Lowers Stock Position in Proto Labs, Inc. $PRLB

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 36.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,616 shares of the industrial products company’s stock after selling 15,566 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.11% of Proto Labs worth $1,332,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rubric Capital Management LP boosted its holdings in shares of Proto Labs by 791.9% in the 2nd quarter. Rubric Capital Management LP now owns 1,034,171 shares of the industrial products company’s stock valued at $41,408,000 after buying an additional 918,219 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Proto Labs by 1.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,722,011 shares of the industrial products company’s stock valued at $108,989,000 after acquiring an additional 51,293 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in Proto Labs by 28.4% in the second quarter. Hillsdale Investment Management Inc. now owns 153,624 shares of the industrial products company’s stock valued at $6,151,000 after acquiring an additional 34,000 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Proto Labs in the second quarter worth $1,340,000. Finally, AlphaQuest LLC increased its position in shares of Proto Labs by 293,750.0% during the second quarter. AlphaQuest LLC now owns 23,508 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 23,500 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Stock Performance

PRLB stock opened at $52.70 on Friday. The firm has a market cap of $1.25 billion, a PE ratio of 86.39 and a beta of 1.16. The firm’s fifty day moving average is $52.54 and its 200 day moving average is $49.79. Proto Labs, Inc. has a one year low of $29.58 and a one year high of $56.60.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, October 31st. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.39 by $0.08. The company had revenue of $135.37 million for the quarter, compared to analyst estimates of $133.83 million. Proto Labs had a return on equity of 2.23% and a net margin of 2.86%.Proto Labs’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Research analysts predict that Proto Labs, Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Proto Labs

In other Proto Labs news, insider Michael R. Kenison sold 3,048 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.17, for a total transaction of $152,918.16. Following the completion of the sale, the insider directly owned 28,898 shares in the company, valued at approximately $1,449,812.66. The trade was a 9.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRLB. Benchmark increased their price objective on shares of Proto Labs from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Proto Labs in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.33.

Proto Labs Profile

Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.

Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.