Swiss National Bank Lowers Holdings in Proto Labs, Inc. (NYSE:PRLB)

Swiss National Bank reduced its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,500 shares of the industrial products company’s stock after selling 6,100 shares during the quarter. Swiss National Bank owned 0.20% of Proto Labs worth $2,006,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new position in shares of Proto Labs in the 4th quarter valued at $202,000. Russell Investments Group Ltd. boosted its stake in shares of Proto Labs by 1.9% during the 4th quarter. Russell Investments Group Ltd. now owns 41,448 shares of the industrial products company’s stock worth $1,615,000 after acquiring an additional 766 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Proto Labs during the 4th quarter valued at about $577,000. Louisiana State Employees Retirement System purchased a new position in shares of Proto Labs in the 4th quarter valued at about $503,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Proto Labs by 38.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,498 shares of the industrial products company’s stock worth $643,000 after purchasing an additional 4,612 shares during the period. 84.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PRLB shares. StockNews.com raised Proto Labs from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Monday, May 6th. Finally, Craig Hallum cut their target price on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, May 6th.

Proto Labs Stock Performance

Shares of PRLB stock opened at $30.89 on Friday. Proto Labs, Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $41.87. The stock’s fifty day moving average is $32.68 and its two-hundred day moving average is $35.32. The firm has a market capitalization of $782.13 million, a P/E ratio of 40.12 and a beta of 1.36.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The firm had revenue of $127.89 million for the quarter, compared to analyst estimates of $123.81 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. On average, equities analysts forecast that Proto Labs, Inc. will post 0.69 earnings per share for the current year.

Proto Labs Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.