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 7.62% during the most recent quarter end. The investment management company now holds a total of 401,958 shares of Proto Labs Inc which is valued at $23,880,325 after selling 33,141 shares in Proto Labs Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Proto Labs Inc makes up approximately 5.68% of Crestwood Capital Management’s portfolio.

Other Hedge Funds, Including , Janus Capital Management reduced its stake in PRLB by selling 141,390 shares or 10.93% in the most recent quarter. The Hedge Fund company now holds 1,152,356 shares of PRLB which is valued at $68,461,470. Proto Labs Inc makes up approx 0.06% of Janus Capital Management’s portfolio.Wealthtrust-arizona boosted its stake in PRLB in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 272 shares of Proto Labs Inc which is valued at $16,179. Proto Labs Inc makes up approx 0.01% of Wealthtrust-arizona’s portfolio.Eagle Asset Management Inc boosted its stake in PRLB in the latest quarter, The investment management firm added 2,793 additional shares and now holds a total of 349,298 shares of Proto Labs Inc which is valued at $20,734,329. Proto Labs Inc makes up approx 0.14% of Eagle Asset Management Inc’s portfolio.

Proto Labs Inc opened for trading at $58.82 and hit $59.8 on the upside on Monday, eventually ending the session at $59.64, with a gain of 1.50% or 0.88 points. The heightened volatility saw the trading volume jump to 1,63,686 shares. Company has a market cap of $1,576 M.

On the company’s financial health, Proto Labs Inc reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $75.00 million for the quarter, compared to analysts expectations of $77.19 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

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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