Victory Capital Management Inc. Lowers Position in Proto Labs, Inc. (NYSE:PRLB)

Jun 10, 2023

Victory Capital Management Inc. cut its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Get Rating) by 74.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,851 shares of the industrial products company's stock after selling 43,816 shares during the period. Victory Capital Management Inc. owned about 0.05% of Proto Labs worth $439,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PRLB. Point72 Hong Kong Ltd purchased a new position in shares of Proto Labs in the second quarter valued at about $29,000. Quantbot Technologies LP bought a new stake in shares of Proto Labs in the second quarter worth about $30,000. Gladius Capital Management LP bought a new stake in shares of Proto Labs in the fourth quarter worth about $36,000. Nisa Investment Advisors LLC increased its holdings in shares of Proto Labs by 339.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,684 shares of the industrial products company's stock worth $43,000 after purchasing an additional 1,301 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of Proto Labs in the third quarter worth about $48,000. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

PRLB has been the topic of several analyst reports. TheStreet cut Proto Labs from a "c-" rating to a "d" rating in a research note on Friday, February 10th. StockNews.com assumed coverage on Proto Labs in a report on Thursday, May 18th. They issued a "buy" rating for the company. Craig Hallum boosted their price target on Proto Labs from $20.00 to $25.00 and gave the company a "sell" rating in a report on Monday, February 13th. Benchmark upgraded Proto Labs from a "hold" rating to a "buy" rating and set a $45.00 price target for the company in a report on Monday, February 13th. Finally, Lake Street Capital boosted their price target on Proto Labs from $37.50 to $40.00 in a report on Monday, February 13th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Proto Labs currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.67.

Proto Labs stock opened at $34.05 on Wednesday. The business has a fifty day moving average of $30.87 and a two-hundred day moving average of $29.66. Proto Labs, Inc. has a twelve month low of $22.04 and a twelve month high of $53.00.

Proto Labs, Inc engages in the manufacture of custom prototypes and production parts. It offers 3D printing, CNC machining, and injection molding services. The company was founded by Lawrence J. Lukis and Gregg Bloom on May 5, 1999 and is headquartered in Maple Plain, MN.

Want to see what other hedge funds are holding PRLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Proto Labs, Inc. (NYSE:PRLB - Get Rating).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Proto Labs, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Proto Labs wasn't on the list.

While Proto Labs currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.