PNC Financial Services Group Inc. cut its position in Proto Labs Inc (NYSE:PRLB) by 21.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,280 shares of the industrial products company’s stock after selling 1,742 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Proto Labs were worth $708,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hardy Reed LLC bought a new stake in Proto Labs in the 4th quarter valued at about $258,000. Vanguard Group Inc. lifted its position in Proto Labs by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,625,466 shares of the industrial products company’s stock valued at $424,668,000 after purchasing an additional 100,343 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Proto Labs by 24.4% in the 3rd quarter. Riverhead Capital Management LLC now owns 2,552 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 500 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Proto Labs by 4.7% in the 4th quarter. Handelsbanken Fonder AB now owns 419,126 shares of the industrial products company’s stock valued at $47,273,000 after purchasing an additional 18,890 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Proto Labs by 9.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 372,470 shares of the industrial products company’s stock valued at $60,247,000 after purchasing an additional 33,022 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

A number of analysts have commented on PRLB shares. Zacks Investment Research downgraded shares of Proto Labs from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. ValuEngine downgraded shares of Proto Labs from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Piper Jaffray Companies dropped their price target on shares of Proto Labs to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, February 7th. Finally, Northcoast Research started coverage on shares of Proto Labs in a research report on Wednesday, December 12th. They set a “buy” rating and a $145.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $134.00.

PRLB stock opened at $105.81 on Friday. Proto Labs Inc has a 52 week low of $94.20 and a 52 week high of $166.60. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 1.24 and a beta of 1.63.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.06). Proto Labs had a return on equity of 14.73% and a net margin of 17.19%. The company had revenue of $112.80 million for the quarter, compared to the consensus estimate of $115.40 million. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Proto Labs Inc will post 2.74 earnings per share for the current fiscal year.

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About Proto Labs

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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Institutional Ownership by Quarter for Proto Labs (NYSE:PRLB)

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