BlackRock Inc. raised its holdings in Proto Labs, Inc. (NYSE:PRLB) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,349,159 shares of the industrial products company’s stock after acquiring an additional 298,655 shares during the quarter. BlackRock Inc. owned about 0.16% of Proto Labs worth $667,160,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in PRLB. ARK Investment Management LLC boosted its stake in Proto Labs by 39.6% in the third quarter. ARK Investment Management LLC now owns 3,094,035 shares of the industrial products company’s stock valued at $400,678,000 after acquiring an additional 877,629 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Proto Labs by 13.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,590,903 shares of the industrial products company’s stock valued at $244,045,000 after acquiring an additional 186,263 shares during the last quarter. Standard Life Aberdeen plc bought a new position in Proto Labs in the third quarter valued at approximately $16,452,000. Nikko Asset Management Americas Inc. boosted its position in shares of Proto Labs by 7.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 1,404,426 shares of the industrial products company’s stock worth $179,767,000 after purchasing an additional 99,205 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Proto Labs by 34.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 166,743 shares of the industrial products company’s stock worth $17,531,000 after purchasing an additional 42,323 shares in the last quarter.
PRLB opened at $165.29 on Tuesday. The stock has a market capitalization of $4.56 billion, a P/E ratio of 78.71 and a beta of 1.96. Proto Labs, Inc. has a 12 month low of $63.19 and a 12 month high of $286.57. The firm’s fifty day simple moving average is $193.43 and its 200 day simple moving average is $153.87.
In other Proto Labs news, Director Rainer Gawlick sold 2,000 shares of Proto Labs stock in a transaction on Friday, December 18th. The shares were sold at an average price of $160.00, for a total value of $320,000.00. Following the sale, the director now directly owns 26,259 shares in the company, valued at approximately $4,201,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on the stock. William Blair reissued a “market perform” rating on shares of Proto Labs in a research report on Thursday, October 29th. Zacks Investment Research cut shares of Proto Labs from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 2nd. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Tuesday, February 16th. Craig Hallum boosted their price objective on shares of Proto Labs from $105.00 to $167.00 in a research report on Wednesday, January 20th. Finally, Benchmark boosted their price objective on shares of Proto Labs from $165.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $155.25.
Proto Labs Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography (SL), selective laser sintering (SLS), direct metal laser sintering (DMLS), Multi Jet Fusion (MJF), PolyJet and Carbon DLS processes; and sheet metal fabrication, which consists includes quick-turn and e-commerce-enabled custom sheet metal parts.
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