Proto Labs, Inc. $PRLB Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its Proto Labs stake by 68.6% in the first quarter, ending with 46,776 shares valued at about $2.67 million.
• Proto Labs reported strong quarterly results, with EPS of $0.54 topping estimates of $0.40 and revenue rising 10.4% year over year to $139.34 million.
• Despite the upbeat results, the stock looks expensive and heavily owned, trading near its 12-month high at $81.53 with a P/E of 76.92, while insiders sold shares and analysts kept an overall “Buy” consensus with a $53.33 target price.

Assenagon Asset Management S.A. lifted its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 68.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,776 shares of the industrial products company's stock after acquiring an additional 19,031 shares during the period. Assenagon Asset Management S.A. owned 0.20% of Proto Labs worth $2,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada increased its stake in Proto Labs by 51.3% in the first quarter. Royal Bank of Canada now owns 6,510 shares of the industrial products company's stock valued at $228,000 after purchasing an additional 2,207 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Proto Labs by 3.3% during the 1st quarter. AQR Capital Management LLC now owns 63,871 shares of the industrial products company's stock valued at $2,238,000 after buying an additional 2,040 shares during the period. NewEdge Advisors LLC grew its stake in shares of Proto Labs by 7,380.0% during the 1st quarter. NewEdge Advisors LLC now owns 748 shares of the industrial products company's stock valued at $26,000 after buying an additional 738 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Proto Labs by 68.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,756 shares of the industrial products company's stock worth $871,000 after buying an additional 8,864 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Proto Labs in the 2nd quarter valued at about $480,000. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Proto Labs

In related news, insider Michael R. Kenison sold 16,030 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $69.49, for a total value of $1,113,924.70. Following the completion of the sale, the insider directly owned 18,683 shares of the company's stock, valued at $1,298,281.67. The trade was a 46.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sven Wehrwein sold 2,000 shares of Proto Labs stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $77.28, for a total value of $154,560.00. Following the completion of the transaction, the director owned 32,505 shares of the company's stock, valued at approximately $2,511,986.40. The trade was a 5.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,663 shares of company stock valued at $1,804,727 over the last quarter. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

PRLB has been the subject of a number of research reports. Wall Street Zen cut Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Monday, June 15th. Zacks Research upgraded shares of Proto Labs from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. Finally, Weiss Ratings lowered shares of Proto Labs from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $53.33.

Proto Labs Price Performance

Proto Labs stock opened at $81.53 on Wednesday. Proto Labs, Inc. has a 12-month low of $38.48 and a 12-month high of $83.15. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 76.92 and a beta of 1.39. The firm's fifty day moving average price is $73.07 and its 200 day moving average price is $62.94.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.14. Proto Labs had a net margin of 4.71% and a return on equity of 4.15%. The company had revenue of $139.34 million during the quarter, compared to analysts' expectations of $135.31 million. During the same period in the prior year, the company posted $0.33 EPS. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. Proto Labs has set its Q2 2026 guidance at 0.500-0.580 EPS. Analysts forecast that Proto Labs, Inc. will post 1.37 earnings per share for the current fiscal year.

Proto Labs Profile

Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.

Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.

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