Essex Investment Management Co. LLC Sells 504 Shares of Proto Labs, Inc. (NYSE:PRLB)

Essex Investment Management Co. LLC cut its stake in shares of Proto Labs, Inc. (NYSE:PRLBGet Rating) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,089 shares of the industrial products company’s stock after selling 504 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Proto Labs were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in Proto Labs by 5.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,447 shares of the industrial products company’s stock worth $1,648,000 after purchasing an additional 1,843 shares during the period. Rhumbline Advisers raised its holdings in Proto Labs by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 81,671 shares of the industrial products company’s stock valued at $3,907,000 after buying an additional 2,770 shares during the period. AlphaCrest Capital Management LLC raised its holdings in Proto Labs by 36.6% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 25,134 shares of the industrial products company’s stock valued at $1,202,000 after buying an additional 6,737 shares during the period. UBS Group AG raised its holdings in Proto Labs by 9.9% during the 2nd quarter. UBS Group AG now owns 2,378 shares of the industrial products company’s stock valued at $114,000 after buying an additional 215 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Proto Labs by 107.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 44,101 shares of the industrial products company’s stock valued at $2,110,000 after buying an additional 22,884 shares during the period. 88.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRLB has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Proto Labs in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Craig Hallum downgraded Proto Labs from a “hold” rating to a “sell” rating and dropped their price objective for the company from $42.00 to $20.00 in a research report on Friday, November 4th.

Proto Labs Stock Down 1.6 %

Shares of NYSE:PRLB traded down $0.41 during trading on Thursday, hitting $25.55. The stock had a trading volume of 255,869 shares, compared to its average volume of 423,193. Proto Labs, Inc. has a 12-month low of $22.04 and a 12-month high of $61.14. The stock has a market capitalization of $692.92 million, a price-to-earnings ratio of 30.06 and a beta of 1.25. The stock has a 50-day simple moving average of $33.59 and a two-hundred day simple moving average of $41.28.

About Proto Labs

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Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.

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

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