JPMorgan Chase & Co. boosted its position in Proto Labs, Inc. (NYSE:PRLB – Free Report) by 301.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,339 shares of the industrial products company’s stock after acquiring an additional 65,583 shares during the period. JPMorgan Chase & Co. owned 0.37% of Proto Labs worth $4,370,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its position 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 purchasing an additional 51,293 shares during the period. Rubric Capital Management LP grew its position in Proto Labs by 8.6% in the 3rd quarter. Rubric Capital Management LP now owns 1,123,338 shares of the industrial products company’s stock valued at $56,201,000 after purchasing an additional 89,167 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Proto Labs by 3.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 460,618 shares of the industrial products company’s stock valued at $23,045,000 after purchasing an additional 13,488 shares in the last quarter. American Capital Management Inc. increased its stake in Proto Labs by 417.0% during the 3rd quarter. American Capital Management Inc. now owns 279,296 shares of the industrial products company’s stock valued at $13,973,000 after purchasing an additional 225,269 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Proto Labs by 3.1% during the third quarter. Nordea Investment Management AB now owns 257,255 shares of the industrial products company’s stock worth $12,732,000 after buying an additional 7,671 shares during the last quarter. Institutional investors own 84.54% of the company’s stock.
Proto Labs Stock Performance
Shares of PRLB stock opened at $57.84 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 65.73 and a beta of 1.31. Proto Labs, Inc. has a 52 week low of $29.58 and a 52 week high of $68.91. The firm’s 50-day simple moving average is $59.29 and its two-hundred day simple moving average is $54.18.
Analysts Set New Price Targets
PRLB has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Proto Labs in a report on Thursday, January 22nd. Zacks Research upgraded shares of Proto Labs from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One investment 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $53.33.
Read Our Latest Stock Analysis on Proto Labs
Insiders Place Their Bets
In other Proto Labs news, insider Michael R. Kenison sold 2,500 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the insider directly owned 34,526 shares of the company’s stock, valued at $2,071,560. This trade represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.70% 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.
See Also
Receive News & Ratings for Proto Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proto Labs and related companies with MarketBeat.com's FREE daily email newsletter.
