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Harding Loevner Exited its Proto Labs Inc. (PRLB) Position, Here’s Why

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Harding Loevner, an investment management firm, published its “Global Equity Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 1.68% was recorded by the fund for the Q1 of 2021, trailing the benchmark, which returned 4.68%. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Harding Loevner, in its Q1 2021 investor letter, mentioned Proto Labs, Inc. (NYSE: PRLB), and shared their insights on the company. Proto Labs, Inc. is a Maple Plain, Minnesota-based digital manufacturing source for rapid prototyping and on-demand production that currently has a $2.8 billion market capitalization. Since the beginning of the year, PRLB delivered a -33.89% return, while its 12-month gains are down by -2.30%. As of May 07, 2021, the stock closed at $101.41 per share.

Here is what Harding Loevner has to say about Proto Labs, Inc. in its Q1 2021 investor letter:

"Shares of Protolabs, a provider of 3D printing and other rapid prototyping and mold machining services for manufacturing, extended their strong performance from last year and soared early in January after the company announced its intention to acquire another on-demand digital manufacturing platform. We took advantage of their runup to sell our position."

3D Printing
3D Printing

xiaole-tao-Fo-HQUlRGkU-unsplash

Our calculations show that Proto Labs, Inc. (NYSE: PRLB) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Proto Labs, Inc. was in 16 hedge fund portfolios. PRLB delivered a -53.17% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.