Proto Labs, Inc. (NYSE:PRLB) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 62.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,874 shares of the industrial products company's stock after selling 12,960 shares during the period. Voya Investment Management LLC's holdings in Proto Labs were worth $308,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Proto Labs by 544.3% in the 4th quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company's stock valued at $3,728,000 after purchasing an additional 80,558 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Proto Labs by 93.1% during the third quarter. JPMorgan Chase & Co. now owns 139,890 shares of the industrial products company's stock worth $4,109,000 after purchasing an additional 67,449 shares in the last quarter. Barclays PLC lifted its position in shares of Proto Labs by 66.4% during the third quarter. Barclays PLC now owns 42,633 shares of the industrial products company's stock worth $1,252,000 after purchasing an additional 17,017 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Proto Labs during the fourth quarter worth about $5,972,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of 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 worth $8,323,000 after purchasing an additional 165,396 shares in the last quarter. Institutional investors and hedge funds own 84.54% of the company's stock.

Analysts Set New Price Targets

PRLB has been the topic of several research reports. StockNews.com raised shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Proto Labs in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.67.

Proto Labs Stock Up 0.7%

Shares of PRLB opened at $40.50 on Monday. The stock has a 50 day moving average price of $35.68 and a 200 day moving average price of $38.34. The company has a market capitalization of $962.73 million, a price-to-earnings ratio of 62.31 and a beta of 1.37. Proto Labs, Inc. has a 52-week low of $25.76 and a 52-week high of $46.73.

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

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

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.

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