Versor Investments LP purchased a new position in Proto Labs, Inc. (NYSE:PRLB – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 5,587 shares of the industrial products company’s stock, valued at approximately $224,000.
A number of other institutional investors have also recently made changes to their positions in PRLB. Wellington Management Group LLP increased its holdings in shares of Proto Labs by 97.4% in the first quarter. Wellington Management Group LLP now owns 711,738 shares of the industrial products company’s stock worth $24,939,000 after purchasing an additional 351,097 shares during the last quarter. Nordea Investment Management AB grew its holdings in Proto Labs by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 249,584 shares of the industrial products company’s stock valued at $9,986,000 after buying an additional 1,427 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Proto Labs by 14.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 153,042 shares of the industrial products company’s stock valued at $5,363,000 after buying an additional 19,441 shares in the last quarter. Pacer Advisors Inc. increased its stake in Proto Labs by 9,033.1% in the 1st quarter. Pacer Advisors Inc. now owns 148,595 shares of the industrial products company’s stock worth $5,207,000 after acquiring an additional 146,968 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Proto Labs by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 122,057 shares of the industrial products company’s stock worth $4,277,000 after acquiring an additional 3,168 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.
Proto Labs Stock Down 2.5%
PRLB stock opened at $48.57 on Friday. Proto Labs, Inc. has a twelve month low of $29.58 and a twelve month high of $55.90. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 80.94 and a beta of 1.23. The firm’s fifty day simple moving average is $50.84 and its two-hundred day simple moving average is $44.20.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on PRLB. Weiss Ratings reissued a “hold (c-)” rating on shares of Proto Labs in a report on Wednesday, October 8th. Craig Hallum upgraded shares of Proto Labs from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, August 1st. Benchmark lifted their price objective on shares of Proto Labs from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald upped their target price on shares of Proto Labs from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.
Get Our Latest Stock Analysis on Proto Labs
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.
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