EntryPoint Capital LLC Sells 4,739 Shares of Proto Labs, Inc. (NYSE:PRLB)

EntryPoint Capital LLC lowered its holdings in Proto Labs, Inc. (NYSE:PRLB) by 41.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,625 shares of the industrial products company’s stock after selling 4,739 shares during the quarter. EntryPoint Capital LLC’s holdings in Proto Labs were worth $259,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. LPL Financial LLC purchased a new stake in Proto Labs in the fourth quarter worth $210,000. KLP Kapitalforvaltning AS bought a new position in Proto Labs in the 4th quarter worth $192,000. Hillsdale Investment Management Inc. lifted its position in shares of Proto Labs by 0.8% in 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. American Century Companies Inc. boosted its stake in shares of Proto Labs by 0.8% during the 4th quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company’s stock valued at $2,055,000 after purchasing an additional 404 shares in the last quarter. Finally, Summit Global Investments purchased a new position in shares of Proto Labs during the fourth quarter valued at about $318,000. 84.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PRLB shares. StockNews.com upgraded shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research note on Friday, February 7th. Finally, Cantor Fitzgerald upped their price target on Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given 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 price target of $43.67.

Proto Labs Stock Performance

Shares of PRLB opened at $35.78 on Friday. Proto Labs, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $46.73. The firm’s 50-day simple moving average is $39.89 and its two-hundred day simple moving average is $36.88. The stock has a market cap of $867.11 million, a PE ratio of 55.05 and a beta of 1.45.

Proto Labs declared that its board has initiated a stock repurchase program on Friday, February 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 9.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Proto Labs

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.