Crestwood Capital Management Lowers stake in Proto Labs Inc (PRLB)

Proto Labs Inc (PRLB) : Crestwood Capital Management reduced its stake in Proto Labs Inc by 12.84% during the most recent quarter end. The investment management company now holds a total of 435,099 shares of Proto Labs Inc which is valued at $26.5 Million after selling 64,101 shares in Proto Labs Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Proto Labs Inc makes up approximately 5.23% of Crestwood Capital Management’s portfolio.

Other Hedge Funds, Including , D.a. Davidson reduced its stake in PRLB by selling 206 shares or 4.7% in the most recent quarter. The Hedge Fund company now holds 4,179 shares of PRLB which is valued at $254,668. Proto Labs Inc makes up approx 0.01% of D.a. Davidson’s portfolio.Mackenzie Financial Corp boosted its stake in PRLB in the latest quarter, The investment management firm added 3,704 additional shares and now holds a total of 9,075 shares of Proto Labs Inc which is valued at $553,031. Proto Labs Inc makes up approx 0.01% of Mackenzie Financial Corp’s portfolio. Cleary Gull Holdings sold out all of its stake in PRLB during the most recent quarter. The investment firm sold 57 shares of PRLB which is valued $3,474. Gilder Gagnon Howe Co sold out all of its stake in PRLB during the most recent quarter. The investment firm sold 166,697 shares of PRLB which is valued $10 Million. Geneva Advisors added PRLB to its portfolio by purchasing 10,290 company shares during the most recent quarter which is valued at $615,239. Proto Labs Inc makes up approx 0.01% of Geneva Advisors’s portfolio.

Proto Labs Inc opened for trading at $62.6 and hit $63.26 on the upside on Wednesday, eventually ending the session at $63.07, with a gain of 1.24% or 0.77 points. The heightened volatility saw the trading volume jump to 2,16,943 shares. Company has a market cap of $1,663 M.

On the company’s financial health, Proto Labs Inc reported $0.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.46. The company had revenue of $72.60 million for the quarter, compared to analysts expectations of $74.29 million. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Proto Labs Inc. FBR Capital Initiated Proto Labs Inc on May 11, 2016 to “Outperform”, Price Target of the shares are set at $80.

Proto Labs Inc. (Proto Labs) is an online manufacturer of custom parts for prototyping and short-run production. The Company utilizes computer numerical control (CNC) machining and injection molding to manufacture custom parts for its customers. The Company provides parts for product developers and engineers across the world. The Company utilizes computer numerical control (CNC) machining and injection molding to manufacture custom parts for its customers. The Company targets its products to the product developers and engineers who use three-dimensional computer-aided design (3D CAD) software to design products across a diverse range of end-markets. Its primary manufacturing product lines include Protomold which is an injection molding product line Firstcut which is a CNC machining product line and Fineline which is an additive-manufactured (3D printing) product line. The Company has operations in the United States Europe and Japan.

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