Millennium Management LLC Reduces Holdings in Proto Labs, Inc. (NYSE:PRLB)

Millennium Management LLC reduced its position in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,011 shares of the industrial products company's stock after selling 12,609 shares during the period. Millennium Management LLC owned 0.13% of Proto Labs worth $1,212,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PRLB. First Trust Advisors LP grew its position in shares of Proto Labs by 71.9% in the 4th quarter. First Trust Advisors LP now owns 738,576 shares of the industrial products company's stock worth $28,871,000 after buying an additional 308,970 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Proto Labs by 348.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 212,914 shares of the industrial products company's stock valued at $8,323,000 after buying an additional 165,396 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in Proto Labs in the fourth quarter worth $5,972,000. Empowered Funds LLC increased its holdings in shares of Proto Labs by 544.3% during the fourth quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company's stock valued at $3,728,000 after acquiring an additional 80,558 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $50,851,000 after acquiring an additional 68,006 shares in the last quarter. 84.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PRLB shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research report on Friday, February 7th. Wall Street Zen upgraded shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 10th.

Proto Labs Price Performance

Shares of Proto Labs stock traded up $0.97 during trading on Friday, hitting $38.28. 235,552 shares of the company's stock traded hands, compared to its average volume of 239,842. Proto Labs, Inc. has a 1 year low of $25.76 and a 1 year high of $46.73. The business has a 50-day simple moving average of $36.45 and a 200-day simple moving average of $38.82. The stock has a market capitalization of $909.95 million, a P/E ratio of 58.89 and a beta of 1.31.

Proto Labs (NYSE:PRLB - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. Proto Labs had a net margin of 3.31% and a return on equity of 2.44%. The firm had revenue of $126.21 million for the quarter, compared to the consensus estimate of $123.71 million. During the same quarter last year, the firm posted $0.40 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Proto Labs, Inc. will post 0.81 earnings per share for the current fiscal year.

Proto Labs announced that its Board of Directors has authorized a share repurchase plan on Friday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 9.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Proto Labs Company 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.