ARK Investment Management LLC Sells 41,465 Shares of Proto Labs, Inc. (NYSE:PRLB)

ARK Investment Management LLC lowered its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 32.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,046 shares of the industrial products company’s stock after selling 41,465 shares during the period. ARK Investment Management LLC owned 0.37% of Proto Labs worth $3,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Proto Labs by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,300,864 shares of the industrial products company’s stock valued at $50,851,000 after buying an additional 68,006 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Proto Labs by 71.9% during the 4th quarter. First Trust Advisors LP now owns 738,576 shares of the industrial products company’s stock worth $28,871,000 after acquiring an additional 308,970 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Proto Labs by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 571,851 shares of the industrial products company’s stock worth $22,354,000 after acquiring an additional 15,000 shares in the last quarter. S Squared Technology LLC boosted its position in shares of Proto Labs by 5.1% during the 4th quarter. S Squared Technology LLC now owns 307,003 shares of the industrial products company’s stock valued at $12,001,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Proto Labs by 3.4% in the fourth quarter. Northern Trust Corp now owns 281,639 shares of the industrial products company’s stock valued at $11,009,000 after purchasing an additional 9,314 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Trading Up 0.8%

PRLB opened at $39.05 on Friday. The stock has a 50-day moving average of $39.10 and a 200 day moving average of $38.46. Proto Labs, Inc. has a 12 month low of $25.75 and a 12 month high of $46.73. The firm has a market cap of $928.22 million, a P/E ratio of 65.08 and a beta of 1.33.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $126.21 million during the quarter, compared to analyst estimates of $123.71 million. Proto Labs had a return on equity of 2.22% and a net margin of 2.99%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. On average, research analysts forecast that Proto Labs, Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th.

Proto Labs 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.