Charles Schwab Investment Management Inc. cut its holdings in Proto Labs, Inc. (NYSE:PRLB – Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 274,038 shares of the industrial products company’s stock after selling 15,307 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.15% of Proto Labs worth $9,602,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRLB. PNC Financial Services Group Inc. raised its holdings in shares of Proto Labs by 14.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,165 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 267 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Proto Labs by 0.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,626 shares of the industrial products company’s stock worth $3,152,000 after purchasing an additional 437 shares during the last quarter. CWM LLC raised its stake in Proto Labs by 50.4% during the first quarter. CWM LLC now owns 1,840 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 617 shares during the period. GAMMA Investing LLC raised its stake in Proto Labs by 249.4% during the first quarter. GAMMA Investing LLC now owns 926 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 661 shares during the period. Finally, Quarry LP boosted its holdings in Proto Labs by 175.7% in the 4th quarter. Quarry LP now owns 1,585 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.
Proto Labs Trading Down 0.3%
Proto Labs stock opened at $50.54 on Tuesday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 84.23 and a beta of 1.33. Proto Labs, Inc. has a twelve month low of $26.34 and a twelve month high of $51.09. The stock’s fifty day simple moving average is $42.31 and its 200-day simple moving average is $39.28.
Insider Buying and Selling
In related news, CEO Suresh Krishna bought 1,725 shares of the stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $43.51 per share, for a total transaction of $75,054.75. Following the acquisition, the chief executive officer owned 18,021 shares in the company, valued at approximately $784,093.71. This represents a 10.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
PRLB has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Craig Hallum upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 1st. Finally, Cantor Fitzgerald increased their price target on Proto Labs from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.50.
Read Our Latest Analysis on PRLB
Proto Labs Profile
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.
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