Proto Labs, Inc. (NYSE:PRLB) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,980,157 shares of the industrial products company's stock after buying an additional 57,894 shares during the quarter. Vanguard Group Inc. owned approximately 11.77% of Proto Labs worth $106,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tradition Wealth Management LLC raised its stake in Proto Labs by 7.8% during the fourth quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company's stock worth $163,000 after purchasing an additional 305 shares during the period. Diversified Trust Co increased its holdings in shares of Proto Labs by 5.2% during the 1st quarter. Diversified Trust Co now owns 7,724 shares of the industrial products company's stock worth $276,000 after buying an additional 382 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Proto Labs by 2.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company's stock valued at $807,000 after buying an additional 534 shares during the period. Russell Investments Group Ltd. lifted its holdings in Proto Labs by 1.9% in the fourth quarter. Russell Investments Group Ltd. now owns 41,448 shares of the industrial products company's stock valued at $1,615,000 after acquiring an additional 766 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Proto Labs by 3,795.7% in the fourth quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company's stock worth $35,000 after acquiring an additional 873 shares during the period. 84.54% of the stock is owned by institutional investors and hedge funds.

Proto Labs Stock Performance

Shares of NYSE:PRLB opened at $28.39 on Friday. Proto Labs, Inc. has a one year low of $23.01 and a one year high of $41.87. The company has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $33.41. The stock has a market capitalization of $718.83 million, a price-to-earnings ratio of 36.87 and a beta of 1.33.

Proto Labs (NYSE:PRLB - Get Free Report) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $127.89 million for the quarter, compared to analysts' expectations of $123.81 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. As a group, research analysts forecast that Proto Labs, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PRLB shares. Craig Hallum reduced their price objective on shares of Proto Labs from $38.00 to $34.00 and set a "hold" rating on the stock in a report on Monday, May 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $44.00 target price on shares of Proto Labs in a report on Tuesday, July 30th. Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a research report on Monday, May 6th. Finally, Benchmark restated a "buy" rating and set a $45.00 price target on shares of Proto Labs in a research report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Proto Labs presently has a consensus rating of "Moderate Buy" and an average target price of $41.25.

View Our Latest Report on PRLB

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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