Prudential Financial Inc. raised its stake in shares of Proto Labs Inc (NYSE:PRLB) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,376 shares of the industrial products company’s stock after buying an additional 2,837 shares during the quarter. Prudential Financial Inc.’s holdings in Proto Labs were worth $8,634,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in PRLB. BlackRock Inc. boosted its holdings in shares of Proto Labs by 13.5% during the second quarter. BlackRock Inc. now owns 3,580,804 shares of the industrial products company’s stock worth $425,936,000 after purchasing an additional 425,901 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of Proto Labs by 14.0% during the third quarter. Conestoga Capital Advisors LLC now owns 690,326 shares of the industrial products company’s stock worth $111,660,000 after purchasing an additional 84,695 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Proto Labs by 3,406.0% during the second quarter. SG Americas Securities LLC now owns 56,096 shares of the industrial products company’s stock worth $6,673,000 after purchasing an additional 54,496 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Proto Labs by 7.1% during the second quarter. Northern Trust Corp now owns 408,438 shares of the industrial products company’s stock worth $48,583,000 after purchasing an additional 27,051 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Proto Labs by 171.0% during the third quarter. Moody Aldrich Partners LLC now owns 32,453 shares of the industrial products company’s stock worth $5,249,000 after purchasing an additional 20,476 shares during the last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.
In other news, CFO John Way sold 8,000 shares of Proto Labs stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $159.10, for a total transaction of $1,272,800.00. Following the sale, the chief financial officer now directly owns 30,503 shares of the company’s stock, valued at $4,853,027.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John B. Goodman sold 1,113 shares of Proto Labs stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $162.95, for a total value of $181,363.35. Following the sale, the director now directly owns 12,655 shares in the company, valued at $2,062,132.25. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
PRLB has been the topic of several analyst reports. Zacks Investment Research cut Proto Labs from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Berenberg Bank began coverage on Proto Labs in a report on Wednesday, November 14th. They issued a “buy” rating and a $159.00 target price on the stock.
NYSE:PRLB opened at $119.84 on Thursday. Proto Labs Inc has a 12 month low of $93.55 and a 12 month high of $166.60. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 62.09, a P/E/G ratio of 1.34 and a beta of 1.54.
Proto Labs (NYSE:PRLB) last released its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.65 by $0.21. Proto Labs had a return on equity of 14.31% and a net margin of 16.76%. The company had revenue of $115.43 million for the quarter, compared to analyst estimates of $112.53 million. As a group, equities research analysts anticipate that Proto Labs Inc will post 2.79 EPS for the current fiscal year.
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Proto Labs Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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