Empowered Funds LLC Decreases Position in Proto Labs, Inc. (NYSE:PRLB)

Empowered Funds LLC cut its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 74.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,801 shares of the industrial products company's stock after selling 43,856 shares during the period. Empowered Funds LLC owned about 0.06% of Proto Labs worth $435,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in Proto Labs in the second quarter valued at $37,000. Innealta Capital LLC acquired a new stake in Proto Labs in the second quarter valued at $40,000. KBC Group NV grew its holdings in Proto Labs by 69.3% during the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company's stock worth $45,000 after acquiring an additional 631 shares during the period. Meeder Asset Management Inc. acquired a new stake in Proto Labs during the 2nd quarter worth about $80,000. Finally, Shell Asset Management Co. acquired a new stake in Proto Labs during the 1st quarter worth about $132,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Price Performance

Shares of PRLB stock traded down $0.38 on Monday, reaching $41.12. 285,848 shares of the company were exchanged, compared to its average volume of 201,790. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 43.74 and a beta of 1.32. The company has a 50-day moving average of $31.60 and a 200-day moving average of $31.17. Proto Labs, Inc. has a one year low of $25.75 and a one year high of $42.66.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PRLB shares. Craig Hallum increased their price target on Proto Labs from $30.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Cantor Fitzgerald reiterated an "overweight" rating and set a $40.00 price target on shares of Proto Labs in a report on Monday, November 4th. StockNews.com downgraded Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Monday, August 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Proto Labs in a report on Friday, November 1st. 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 MarketBeat, Proto Labs has a consensus rating of "Moderate Buy" and a consensus price target of $40.33.

Insider Activity at Proto Labs

In other Proto Labs news, CEO Robert Bodor purchased 3,480 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $28.68 per share, with a total value of $99,806.40. Following the transaction, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. The trade was a 4.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

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.