Assenagon Asset Management S.A. Trims Stock Position in Proto Labs, Inc. (NYSE:PRLB)

Assenagon Asset Management S.A. trimmed its position in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 40.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,115 shares of the industrial products company's stock after selling 44,545 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.27% of Proto Labs worth $2,317,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Proto Labs by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,300,864 shares of the industrial products company's stock worth $50,851,000 after purchasing an additional 68,006 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Proto Labs by 71.9% in the fourth quarter. First Trust Advisors LP now owns 738,576 shares of the industrial products company's stock valued at $28,871,000 after acquiring an additional 308,970 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Proto Labs by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 571,851 shares of the industrial products company's stock valued at $22,354,000 after acquiring an additional 15,000 shares in the last quarter. S Squared Technology LLC lifted its position in shares of Proto Labs by 5.1% in the fourth quarter. S Squared Technology LLC now owns 307,003 shares of the industrial products company's stock valued at $12,001,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Proto Labs by 3.4% in the fourth quarter. Northern Trust Corp now owns 281,639 shares of the industrial products company's stock valued at $11,009,000 after acquiring an additional 9,314 shares in the last quarter. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

Proto Labs Trading Down 0.3%

Shares of NYSE:PRLB traded down $0.10 on Thursday, hitting $38.05. The company had a trading volume of 144,833 shares, compared to its average volume of 241,444. Proto Labs, Inc. has a 52-week low of $25.76 and a 52-week high of $46.73. The business has a 50 day moving average of $37.47 and a 200 day moving average of $38.69. The company has a market cap of $904.42 million, a PE ratio of 63.42 and a beta of 1.31.

Proto Labs (NYSE:PRLB - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Proto Labs had a return on equity of 2.22% and a net margin of 2.99%. The firm had revenue of $126.21 million for the quarter, compared to the consensus estimate of $123.71 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities analysts predict that Proto Labs, Inc. will post 0.81 EPS 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.