Quest Partners LLC Sells 21,542 Shares of Proto Labs, Inc. (NYSE:PRLB)

Quest Partners LLC decreased its position in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 70.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,861 shares of the industrial products company's stock after selling 21,542 shares during the quarter. Quest Partners LLC's holdings in Proto Labs were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PRLB. Canada Pension Plan Investment Board acquired a new position in Proto Labs during the 2nd quarter worth about $37,000. Innealta Capital LLC acquired a new position in Proto Labs during the 2nd quarter worth about $40,000. KBC Group NV lifted 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 buying an additional 631 shares during the period. Meeder Asset Management Inc. acquired a new position in Proto Labs during the 2nd quarter worth about $80,000. Finally, Diversified Trust Co lifted its holdings in Proto Labs by 9.2% during the 2nd quarter. Diversified Trust Co now owns 8,431 shares of the industrial products company's stock worth $260,000 after buying an additional 707 shares during the period. Institutional investors own 84.54% of the company's stock.

Proto Labs Price Performance

Shares of Proto Labs stock opened at $41.11 on Wednesday. Proto Labs, Inc. has a one year low of $25.75 and a one year high of $42.66. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 43.73 and a beta of 1.32. The business has a 50-day simple moving average of $31.84 and a 200 day simple moving average of $31.23.

Proto Labs (NYSE:PRLB - Get Free Report) last issued its earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The business had revenue of $125.60 million during the quarter, compared to analyst estimates of $121.38 million. During the same period in the previous year, the company posted $0.31 EPS. The firm's revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts expect that Proto Labs, Inc. will post 0.84 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a research note on Friday, November 1st. Cantor Fitzgerald reissued an "overweight" rating and issued a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Craig Hallum boosted their price objective on Proto Labs from $30.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded Proto Labs from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.33.

Insider Activity at Proto Labs

In related news, CEO Robert Bodor acquired 3,480 shares of the firm's stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $28.68 per share, with a total value of $99,806.40. Following the acquisition, the chief executive officer now owns 80,878 shares of the company's stock, valued at approximately $2,319,581.04. This trade represents a 4.50 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Proto Labs Company 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.