Conestoga Capital Advisors LLC raised its stake in Proto Labs, Inc. (NYSE:PRLB) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,818 shares of the industrial products company’s stock after buying an additional 28,285 shares during the period. Conestoga Capital Advisors LLC owned about 1.69% of Proto Labs worth $30,183,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in PRLB. BB&T Corp acquired a new position in shares of Proto Labs during the second quarter valued at approximately $205,000. Aperio Group LLC increased its position in shares of Proto Labs by 35.3% in the second quarter. Aperio Group LLC now owns 6,882 shares of the industrial products company’s stock valued at $463,000 after buying an additional 1,795 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Proto Labs by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 4,814 shares of the industrial products company’s stock valued at $323,000 after buying an additional 2,124 shares during the last quarter. Handelsinvest Investeringsforvaltning increased its position in shares of Proto Labs by 488.7% in the second quarter. Handelsinvest Investeringsforvaltning now owns 69,471 shares of the industrial products company’s stock valued at $4,672,000 after buying an additional 57,671 shares during the last quarter. Finally, Capital Investment Services of America Inc. increased its position in shares of Proto Labs by 2.0% in the second quarter. Capital Investment Services of America Inc. now owns 146,104 shares of the industrial products company’s stock valued at $9,825,000 after buying an additional 2,890 shares during the last quarter.
Shares of Proto Labs, Inc. (PRLB) traded down 2.71% during mid-day trading on Thursday, hitting $69.90. 128,238 shares of the company’s stock traded hands. Proto Labs, Inc. has a 52 week low of $43.10 and a 52 week high of $75.55. The firm has a 50-day moving average of $71.10 and a 200 day moving average of $60.70. The company has a market cap of $1.86 billion, a PE ratio of 40.64 and a beta of 0.93.
Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $82.04 million for the quarter, compared to analyst estimates of $80.49 million. Proto Labs had a net margin of 14.59% and a return on equity of 11.75%. Proto Labs’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. Equities research analysts predict that Proto Labs, Inc. will post $2.06 EPS for the current year.
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Several research analysts have recently commented on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $67.00 target price on shares of Proto Labs in a report on Friday, July 28th. Zacks Investment Research downgraded Proto Labs from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Dougherty & Co raised Proto Labs from a “sell” rating to a “neutral” rating in a report on Tuesday, June 27th. Finally, TheStreet raised Proto Labs from a “c+” rating to a “b-” rating in a report on Friday, May 5th. Four research analysts have rated the stock with a hold rating, Proto Labs has a consensus rating of “Hold” and an average price target of $60.75.
In other news, Director Rainer Gawlick sold 833 shares of Proto Labs stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $64.05, for a total transaction of $53,353.65. Following the transaction, the director now owns 6,258 shares in the company, valued at $400,824.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert Bodor sold 741 shares of Proto Labs stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $73.84, for a total transaction of $54,715.44. Following the transaction, the vice president now owns 17,319 shares in the company, valued at approximately $1,278,834.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,833 shares of company stock worth $342,782. 7.78% of the stock is owned by company insiders.
About Proto Labs
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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