ProShare Advisors LLC Acquires Shares of 7,590 Proto Labs, Inc. (NYSE:PRLB)

ProShare Advisors LLC acquired a new position in Proto Labs, Inc. (NYSE:PRLB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,590 shares of the industrial products company's stock, valued at approximately $297,000.

Several other institutional investors also recently modified their holdings of PRLB. Janney Montgomery Scott LLC grew its position in shares of Proto Labs by 6.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 20,164 shares of the industrial products company's stock worth $788,000 after buying an additional 1,147 shares during the period. Empowered Funds LLC grew its position in shares of Proto Labs by 544.3% during the 4th quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company's stock worth $3,728,000 after buying an additional 80,558 shares during the period. Rhumbline Advisers grew its position in shares of Proto Labs by 0.4% during the 4th quarter. Rhumbline Advisers now owns 78,783 shares of the industrial products company's stock worth $3,080,000 after buying an additional 303 shares during the period. Principal Financial Group Inc. grew its position in shares of Proto Labs by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 118,889 shares of the industrial products company's stock worth $4,647,000 after buying an additional 299 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Proto Labs during the 4th quarter worth about $5,972,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Trading Down 1.6%

Shares of NYSE:PRLB traded down $0.60 during trading on Friday, hitting $37.01. 175,841 shares of the company's stock traded hands, compared to its average volume of 237,222. Proto Labs, Inc. has a 52 week low of $25.76 and a 52 week high of $46.73. The company has a market cap of $879.76 million, a price-to-earnings ratio of 56.94 and a beta of 1.37. The company has a 50-day moving average price of $36.36 and a 200-day moving average price of $38.84.

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

Proto Labs declared that its board has authorized a share repurchase program on Friday, February 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 9.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.