Vanguard Group Inc. trimmed its position in shares of Proto Labs, Inc. (NYSE:PRLB – Free Report) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,744,977 shares of the industrial products company’s stock after selling 27,890 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Proto Labs worth $137,331,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRLB. Disciplined Growth Investors Inc. MN grew its holdings in shares of Proto Labs by 1.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,722,011 shares of the industrial products company’s stock worth $108,989,000 after buying an additional 51,293 shares in the last quarter. Rubric Capital Management LP raised its holdings in Proto Labs by 791.9% in the 2nd quarter. Rubric Capital Management LP now owns 1,034,171 shares of the industrial products company’s stock valued at $41,408,000 after acquiring an additional 918,219 shares during the last quarter. S Squared Technology LLC raised its holdings in Proto Labs by 1.3% in the 2nd quarter. S Squared Technology LLC now owns 311,103 shares of the industrial products company’s stock valued at $12,457,000 after acquiring an additional 4,100 shares during the last quarter. Nordea Investment Management AB lifted its stake in Proto Labs by 3.1% in the 3rd quarter. Nordea Investment Management AB now owns 257,255 shares of the industrial products company’s stock worth $12,732,000 after purchasing an additional 7,671 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Proto Labs by 3.7% in the second quarter. Jupiter Asset Management Ltd. now owns 194,832 shares of the industrial products company’s stock valued at $7,801,000 after purchasing an additional 6,921 shares during the last quarter. Institutional investors and hedge funds own 84.54% of the company’s stock.
Proto Labs Price Performance
Shares of PRLB stock opened at $61.86 on Wednesday. Proto Labs, Inc. has a 1-year low of $29.58 and a 1-year high of $68.91. The firm has a market cap of $1.47 billion, a PE ratio of 70.30 and a beta of 1.25. The company has a 50-day moving average of $57.48 and a two-hundred day moving average of $53.02.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on PRLB. Weiss Ratings reissued a “hold (c-)” rating on shares of Proto Labs in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Proto Labs from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $53.33.
Get Our Latest Analysis on Proto Labs
Insider Activity
In related news, insider Michael R. Kenison sold 2,500 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the transaction, the insider owned 34,526 shares of the company’s stock, valued at approximately $2,071,560. This represents a 6.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Proto Labs Profile
Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.
Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.
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