Proto Labs, Inc. (NYSE:PRLB) Position Trimmed by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its holdings in Proto Labs, Inc. (NYSE:PRLB) by 8.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 276,652 shares of the industrial products company’s stock after selling 24,959 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.09% of Proto Labs worth $9,890,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in shares of Proto Labs by 3,795.7% in the 4th quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 873 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Proto Labs by 224.0% during the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,295 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Proto Labs in the 1st quarter worth about $110,000. Shell Asset Management Co. bought a new stake in Proto Labs in the 1st quarter valued at about $132,000. Finally, Tradition Wealth Management LLC boosted its stake in Proto Labs by 7.8% during the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the period. Institutional investors own 84.54% of the company’s stock.

Analyst Upgrades and Downgrades

PRLB has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price objective on shares of Proto Labs in a research report on Tuesday. Craig Hallum dropped their target price on Proto Labs from $38.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Monday, May 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Proto Labs in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Proto Labs has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Proto Labs Stock Performance

Shares of NYSE:PRLB traded up $0.22 during midday trading on Wednesday, hitting $34.67. 35,500 shares of the stock were exchanged, compared to its average volume of 158,292. The business’s fifty day simple moving average is $31.51 and its two-hundred day simple moving average is $33.47. Proto Labs, Inc. has a 52-week low of $23.01 and a 52-week high of $41.87. The company has a market capitalization of $877.84 million, a PE ratio of 44.82 and a beta of 1.33.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The business had revenue of $127.89 million during the quarter, compared to analyst estimates of $123.81 million. As a group, equities analysts anticipate that Proto Labs, Inc. will post 0.69 EPS for the current year.

About Proto Labs

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.