Voya Investment Management LLC lessened its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC boosted its stake 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 purchasing an additional 80,558 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Proto Labs by 93.1% in the third quarter. JPMorgan Chase & Co. now owns 139,890 shares of the industrial products company's stock valued at $4,109,000 after buying 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 Proto Labs during the 4th quarter valued at $5,972,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Proto Labs by 348.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 212,914 shares of the industrial products company's stock worth $8,323,000 after buying an additional 165,396 shares during the period. 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 analyst reports. Cantor Fitzgerald lifted their price objective on Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. StockNews.com upgraded Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.67.
Check Out Our Latest Research Report on PRLB
Proto Labs Price Performance
Shares of NYSE PRLB traded up $0.32 during midday trading on Friday, hitting $40.97. 27,993 shares of the company's stock were exchanged, compared to its average volume of 222,534. Proto Labs, Inc. has a twelve month low of $25.75 and a twelve month high of $46.73. The firm has a market cap of $973.90 million, a P/E ratio of 63.08 and a beta of 1.37. The stock's 50 day moving average price is $35.94 and its 200-day moving average price is $38.57.
Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $126.21 million during the quarter, compared to the consensus estimate of $123.71 million. Proto Labs had a net margin of 3.31% and a return on equity of 2.44%. The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, analysts expect that Proto Labs, Inc. will post 0.81 EPS for the current fiscal year.
Proto Labs announced that its Board of Directors has approved a stock buyback program on Friday, February 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 9.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.
Proto Labs Company Profile
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Free Report)
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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