Institutional Holder Reports 2.72M Shares of Proto Labs (PRLB)

Rhea-AI Filing Summary

Disciplined Growth Investors, Inc. reports beneficial ownership of 2,722,011 shares of Proto Labs Inc. common stock, representing 11.4% of the outstanding class. The filer states it has sole voting power over 2,446,527 shares and sole dispositive power over all 2,722,011 shares, and that the securities were acquired and are held in the ordinary course of business rather than to influence control. The filing lists the issuers principal office in Maple Plain, Minnesota, and the reporting persons office in Minneapolis. The statement is signed by the firm's Chief Compliance Officer on 08/14/2025.

Positive

• Material disclosed stake: Reporting person holds 2,722,011 shares, equal to 11.4% of the class.
• Clear control of disposition: Sole dispositive power reported for all 2,722,011 shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: A prominent institutional investor holds an 11.4% stake with sole dispositive control, a materially disclosed ownership position.

The filing documents a meaningful equity position by Disciplined Growth Investors, Inc., totaling 2,722,011 shares or 11.4% of Proto Labs' common stock. The holder reports sole dispositive power for the full position and sole voting power for the majority of shares, which indicates the firm can independently buy or sell the disclosed shares. The certification states the position is held in the ordinary course of business and not for control purposes, which frames this as an investment stake rather than an activist move based on the filers declaration.

Corporate Governance Expert

TL;DR: This Schedule 13G/A reveals a substantial passive stake with voting authority concentrated in the reporting firm.

The filing meets disclosure triggers for ownership above 5% and clarifies voting and dispositive powers: 2,446,527 shares with sole voting power and 2,722,011 with sole dispositive power. The signer, the Chief Compliance Officer, certifies ordinary-course holding and absence of intent to change control. From a governance perspective, this creates a notable shareholder with concentrated control over disposition decisions while the filer disclaims an intent to act as a control participant.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Proto Labs Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

743713109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 743713109

1

Names of Reporting Persons

DISCIPLINED GROWTH INVESTORS INC /MN

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MINNESOTA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,446,527.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,722,011.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,722,011.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Proto Labs Inc
(b)	Address of issuer's principal executive offices: 5540 Pioneer Creek, 5540 Pioneer Creek, Maple Plain, MINNESOTA, 55359.
Item 2.
(a)	Name of person filing: Disciplined Growth Investors, Inc.
(b)	Address or principal business office or, if none, residence: 150 South Fifth Street Suite 2550 Minneapolis, MN 55402
(c)	Citizenship: Minnesota, US
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 743713109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,722,011
(b)	Percent of class: 11.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,446,527
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,722,011
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DISCIPLINED GROWTH INVESTORS INC /MN

Signature:	Peter G. Rieke
Name/Title:	Chief Compliance Officer
Date:	08/14/2025

FAQ

How many Proto Labs (PRLB) shares does Disciplined Growth Investors hold?

The filing reports 2,722,011 shares beneficially owned.

What percent of PRLB does Disciplined Growth Investors own?

The filing states an ownership of 11.4% of the common stock class.

Does Disciplined Growth Investors have voting or dispositive power over these shares?

Yes. The filer reports sole voting power for 2,446,527 shares and sole dispositive power for all 2,722,011 shares.

Was the stake acquired to influence control of Proto Labs?

No. The filer certified the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Who signed the Schedule 13G/A and when?

The document is signed by Peter G. Rieke, Chief Compliance Officer, dated 08/14/2025.