Sei Investments Co. Sells 3,400 Shares of Proto Labs, Inc. (NYSE:PRLB)

Sei Investments Co. cut its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,202 shares of the industrial products company’s stock after selling 3,400 shares during the period. Sei Investments Co.’s holdings in Proto Labs were worth $321,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Proto Labs by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 118,889 shares of the industrial products company’s stock valued at $4,647,000 after acquiring an additional 299 shares in the last quarter. Rhumbline Advisers boosted its position in Proto Labs by 0.4% during the fourth quarter. Rhumbline Advisers now owns 78,783 shares of the industrial products company’s stock valued at $3,080,000 after purchasing an additional 303 shares in the last quarter. American Century Companies Inc. grew its stake in Proto Labs by 0.8% in the fourth quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company’s stock valued at $2,055,000 after purchasing an additional 404 shares during the last quarter. Tidal Investments LLC raised its holdings in Proto Labs by 1.7% in the third quarter. Tidal Investments LLC now owns 30,156 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 494 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Proto Labs by 8.2% during the third quarter. Franklin Resources Inc. now owns 12,989 shares of the industrial products company’s stock valued at $370,000 after buying an additional 980 shares during the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Trading Down 4.1 %

NYSE:PRLB opened at $33.63 on Friday. The company’s 50 day moving average is $38.31 and its two-hundred day moving average is $37.20. The company has a market cap of $814.96 million, a PE ratio of 51.74 and a beta of 1.52. Proto Labs, Inc. has a twelve month low of $25.76 and a twelve month high of $46.73.

Proto Labs declared that its Board of Directors has initiated a share buyback program on Friday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 9.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

PRLB has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price objective on shares of Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research report on Friday, February 7th. Finally, StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

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.