ETRADE Capital Management LLC Increases Stake in Proto Labs Inc (NYSE:PRLB)

ETRADE Capital Management LLC grew its position in Proto Labs Inc (NYSE:PRLB) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,066 shares of the industrial products company’s stock after acquiring an additional 686 shares during the quarter. ETRADE Capital Management LLC’s holdings in Proto Labs were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PRLB. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Proto Labs by 90.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,231,502 shares of the industrial products company’s stock valued at $93,754,000 after acquiring an additional 585,053 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of Proto Labs by 90.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,231,388 shares of the industrial products company’s stock valued at $93,746,000 after buying an additional 585,053 shares in the last quarter. Norges Bank bought a new stake in shares of Proto Labs in the 4th quarter valued at about $48,493,000. Janus Henderson Group PLC raised its position in shares of Proto Labs by 22.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,219,433 shares of the industrial products company’s stock valued at $123,833,000 after purchasing an additional 226,226 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Proto Labs by 35.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 591,291 shares of the industrial products company’s stock valued at $60,046,000 after purchasing an additional 153,946 shares during the last quarter. 99.20% of the stock is currently owned by institutional investors and hedge funds.

PRLB opened at $124.25 on Wednesday. Proto Labs Inc has a 12-month low of $63.19 and a 12-month high of $136.22. The company has a current ratio of 4.49, a quick ratio of 4.27 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.31 billion, a PE ratio of 54.02, a P/E/G ratio of 2.90 and a beta of 1.70. The firm has a 50 day moving average of $94.29 and a two-hundred day moving average of $94.46.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. Proto Labs had a net margin of 13.49% and a return on equity of 10.82%. The company had revenue of $115.10 million during the quarter, compared to analyst estimates of $102.36 million. During the same period last year, the firm posted $0.69 EPS. Proto Labs’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts predict that Proto Labs Inc will post 1.86 EPS for the current fiscal year.

Several brokerages recently commented on PRLB. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research report on Thursday, April 9th. Benchmark began coverage on shares of Proto Labs in a research report on Thursday, May 14th. They issued a “buy” rating and a $145.00 price objective for the company. TheStreet raised shares of Proto Labs from a “c+” rating to a “b-” rating in a research report on Wednesday, May 20th. Craig Hallum decreased their price objective on shares of Proto Labs from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Finally, Zacks Investment Research lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Proto Labs currently has an average rating of “Hold” and a consensus target price of $97.20.

In other news, VP Robert Bodor sold 9,681 shares of Proto Labs stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $106.30, for a total transaction of $1,029,090.30. Following the completion of the transaction, the vice president now directly owns 22,114 shares of the company’s stock, valued at approximately $2,350,718.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.

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