Charles Schwab Investment Management Inc. Sells 17,972 Shares of Proto Labs, Inc. (NYSE:PRLB)

Charles Schwab Investment Management Inc. cut its stake in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 330,798 shares of the industrial products company's stock after selling 17,972 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.35% of Proto Labs worth $9,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. KBC Group NV raised its holdings in shares of Proto Labs by 69.3% in the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 631 shares in the last quarter. Diversified Trust Co raised its stake in Proto Labs by 9.2% in the second quarter. Diversified Trust Co now owns 8,431 shares of the industrial products company's stock valued at $260,000 after purchasing an additional 707 shares in the last quarter. American Century Companies Inc. lifted its position in Proto Labs by 1.9% during the second quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company's stock valued at $1,326,000 after purchasing an additional 812 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Proto Labs in the 2nd quarter worth approximately $37,000. Finally, Innealta Capital LLC bought a new position in shares of Proto Labs in the 2nd quarter worth $40,000. 84.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PRLB. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Proto Labs in a report on Monday, November 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research note on Friday, November 1st. Finally, Craig Hallum increased their price objective on Proto Labs from $30.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Proto Labs has a consensus rating of "Moderate Buy" and an average price target of $40.33.

Proto Labs Stock Performance

NYSE:PRLB traded up $1.13 during trading hours on Tuesday, reaching $44.62. The company's stock had a trading volume of 156,607 shares, compared to its average volume of 201,832. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 46.27 and a beta of 1.45. The firm has a 50-day simple moving average of $34.30 and a 200-day simple moving average of $31.91. Proto Labs, Inc. has a 1 year low of $25.75 and a 1 year high of $45.15.

Proto Labs (NYSE:PRLB - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. The firm had revenue of $125.60 million for the quarter, compared to the consensus estimate of $121.38 million. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The company's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities analysts anticipate that Proto Labs, Inc. will post 0.84 earnings per share for the current fiscal 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.