Proto Labs, Inc. (NYSE:PRLB) Shares Sold by Trexquant Investment LP

Trexquant Investment LP decreased its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,115 shares of the industrial products company’s stock after selling 9,477 shares during the period. Trexquant Investment LP owned 0.42% of Proto Labs worth $4,031,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Proto Labs by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 118,889 shares of the industrial products company’s stock worth $4,647,000 after buying an additional 299 shares during the period. Rhumbline Advisers increased its stake in Proto Labs by 0.4% during the fourth quarter. Rhumbline Advisers now owns 78,783 shares of the industrial products company’s stock worth $3,080,000 after acquiring an additional 303 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Proto Labs by 0.8% in the 4th quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company’s stock worth $2,055,000 after purchasing an additional 404 shares during the period. Tidal Investments LLC lifted its stake in shares of Proto Labs by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 30,156 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 494 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Proto Labs by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 115,724 shares of the industrial products company’s stock worth $4,524,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Stock Down 5.0 %

Shares of NYSE:PRLB opened at $31.62 on Friday. The company has a market capitalization of $766.32 million, a price-to-earnings ratio of 48.65 and a beta of 1.45. The company has a 50 day moving average of $39.33 and a two-hundred day moving average of $37.11. Proto Labs, Inc. has a 52-week low of $25.76 and a 52-week high of $46.73.

Proto Labs announced that its board has initiated a stock buyback program on Friday, February 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 9.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on PRLB. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. StockNews.com upgraded shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Cantor Fitzgerald increased their price target on Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

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.