Wellington Management Group LLP Has $14.10 Million Holdings in Proto Labs, Inc. (NYSE:PRLB)

Wellington Management Group LLP reduced its position in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 360,641 shares of the industrial products company's stock after selling 27,100 shares during the quarter. Wellington Management Group LLP owned about 1.49% of Proto Labs worth $14,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRLB. Mackenzie Financial Corp purchased a new stake in Proto Labs during the 4th quarter worth $519,000. PharVision Advisers LLC acquired a new stake in Proto Labs in the fourth quarter worth $257,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Proto Labs by 0.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,626 shares of the industrial products company's stock valued at $3,152,000 after purchasing an additional 437 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of Proto Labs during the fourth quarter worth approximately $1,950,000. Finally, ProShare Advisors LLC acquired a new position in Proto Labs during the 4th quarter worth $297,000. Institutional investors and hedge funds own 84.54% of the company's stock.

Analyst Upgrades and Downgrades

PRLB has been the topic of several research analyst reports. Cantor Fitzgerald lifted their price target on Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a research note on Friday, February 7th. Finally, Wall Street Zen raised Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

Proto Labs Trading Down 1.5%

NYSE PRLB traded down $0.57 on Thursday, reaching $37.28. The stock had a trading volume of 330,562 shares, compared to its average volume of 239,859. The company has a market capitalization of $886.09 million, a price-to-earnings ratio of 57.35 and a beta of 1.37. The business has a 50 day moving average price of $36.45 and a 200 day moving average price of $38.82. Proto Labs, Inc. has a 1 year low of $25.76 and a 1 year high of $46.73.

Proto Labs (NYSE:PRLB - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 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 business had revenue of $126.21 million during the quarter, compared to analyst estimates of $123.71 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts anticipate 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 approved a share buyback program on Friday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 9.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

About Proto Labs

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.