Russell Investments Group Ltd. grew its stake in Proto Labs Inc (NYSE:PRLB) by 3.8% in the first quarter, Holdings Channel reports. The institutional investor owned 29,042 shares of the industrial products company’s stock after buying an additional 1,073 shares during the period. Russell Investments Group Ltd.’s holdings in Proto Labs were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in shares of Proto Labs by 73.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,280 shares of the industrial products company’s stock worth $132,000 after buying an additional 544 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Proto Labs in the first quarter worth $188,000. D.B. Root & Company LLC purchased a new position in shares of Proto Labs in the fourth quarter worth $270,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Proto Labs in the first quarter worth $271,000. Finally, ETRADE Capital Management LLC purchased a new position in shares of Proto Labs during the fourth quarter worth $282,000. 95.25% of the stock is owned by institutional investors and hedge funds.
In other Proto Labs news, Director Sven Wehrwein sold 1,000 shares of Proto Labs stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $125.00, for a total value of $125,000.00. Following the completion of the transaction, the director now owns 11,878 shares of the company’s stock, valued at $1,484,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Goodman sold 1,113 shares of Proto Labs stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $131.50, for a total transaction of $146,359.50. Following the completion of the transaction, the director now directly owns 12,655 shares of the company’s stock, valued at approximately $1,664,132.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,110 shares of company stock valued at $1,066,254. 0.64% of the stock is currently owned by corporate insiders.
Proto Labs (NYSE:PRLB) last issued its earnings results on Thursday, April 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Proto Labs had a net margin of 15.49% and a return on equity of 12.88%. The firm had revenue of $107.70 million during the quarter, compared to analysts’ expectations of $103.88 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s revenue was up 34.3% compared to the same quarter last year. analysts forecast that Proto Labs Inc will post 2.6 EPS for the current year.
Several research analysts recently issued reports on PRLB shares. ValuEngine raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research cut shares of Proto Labs from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $98.33.
Proto Labs Company Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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